Exchange Rate Forecasts

GBP/EUR looking better supported, 200-week moving average forms main technical roadblock.

Danske Bank is steadfast in its forecast that the Euro will move lower against the Dollar, taking it comfortably below parity during the course of the coming months.

The Euro has pushed to its highest level since the 1st of July on Tuesday, and further gains all the way to 1.10 cannot be ruled out says a major European bank.

The Pound has rallied to a new three-month best against the Dollar as the major unwind of the U.S. currency sparked by last week's U.S. inflation data release extends.

BNZ is in the process of upgrading its NZD forecasts.

Strategists at French bank Crédit Agricole are buying the British Pound against the Euro in the near term, finding the Eurozone's single currency has reached a short-term overvaluation.

GBP/CAD technicals suggest further upside.

GBP/AUD at 1.78 and then 1.80 is possible if the cards fall in Sterling's favour.

GBP/NZD set to release pent-up energy in a busy week for the UK.

EUR/USD could extend its near-term recovery over this coming week say analysts, although many remain of a view the market is witnessing a technical position clear-out and not necessarily the start of a long-term rebound.

GBP/USD in strong comeback, suggests the multi-year low is now in.

GBP/EUR struggling to hold gains, suggesting downside potential for coming days.

Investors can expect the dollar surge to likely continue well into 2023.

GBP/AUD, EUR/AUD and AUD/USD forecasts from Intesa Sanpaolo.

The Canadian Dollar is forecast to see further near-term weakness against the Pound, Dollar and Euro but a strong recovery through 2023 is predicted by NBC.

USD could be in the final phase of its multi-month rally according to analysts at Capital Economics, although they warn it is still too soon to prepare for the Greenback to roll over and turn trend.

NZD is the best-performing major currency of November, but this outperformance will likely fade over the coming days, offering GBP the chance to consolidate towards the middle of a long-held trading range.

GBP/AUD higher at the start of another week that could well centre on developments in China, where authorities are proving eager to push back against rumours they are willing to reconsider their zero-Covid policy.

The Pound to Euro exchange rate came undone in heavy losses following November's Bank of England (BoE) interest rate decision but it could be at risk of falling further and back near to early October lows in the days ahead if the market remains leery of Sterling going into Friday's release of UK GDP data. 

This is a significant week for global FX, with the Federal Reserve's policy update on Wednesday followed by Friday's all-important U.S. jobs report.