Sterling set to crash? Further QE may lead to weakness & no QE strength - Pound forecast

Exchange rate forecast GBP EUR USD SEK CAD CHF ZAR JPY and more!

Bank of England to decide fate for the Pound today - Sterling forecast

Today at midday sees the Bank of England interest rate decision and although no change in interest rates is expected the focus appears to be on whether or not further QE will be put into place.

The BOE seem to like mentioning QE as a tool to talk down the value of the POund which in turn keeps our exports up and this has certainly worked in their favour again over the past week or so with the losses we have seen.

The losses as mentioned previously are due to a potential hung parliament, a large deal with Prudential and mortgage approval data being absolutely dire at the start of the week, add to that our revised GDP figures from Friday and things do not look great for Sterling.

Greece place new measures which brings minor confidence back to the Euro and minor strength - Euro forecast

Yesterday Greece announced details of their plans to conquer their huge budget deficit plans and how they would be supporting European assistance.

This was taken reasonably well for the Euro Zone and led to minor Euro strength but I am sure we have not heard the last of it.

U.S Unemployment figures set to lead to market volatility

Later this afternoon sees the release of unemployment figures for the States and it is a coin toss as to whether or not we will continue to see a further increase in jobless claims as we saw nearly 500,000 new claims in January.

The services sector appears to be improving in the U.S however whatever comes out of today's unemployment figure is bound to cause some volatility.


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Three way split on QE leads to Sterling weakness

The Pound has had a terrible day on a trade weighted basis today, mainly due to worries on the Bank of England's future views on quantitative easing alongside other information released in the minutes.

At the time of writing this post Sterling had dropped by 1.12% against the Euro 0.37% against the Dollar and 1.14% against the Swiss Franc to list just a few currencies of note.

Once again if you do have an upcoming transfer to make it may be prudent to seriously consider your options which include a forward contract, stop loss and limit orders - these can be fantastic tools to assist you with maximising your rate.

Do feel free to get in touch with me if you are unsure as to what these are and how they work.

THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

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Big day for Sterling - further Quantitative easing a possibility?? expect high volatility today GBP EUR USD SEK ZAR AUD NZD

Today has the potential to be the most volatile day of the week for Sterling as we see the release of the Bank of England interest rate decisioon at 12:00pm.

Although no changes to interest rates are expected all eyes will be focused on what is said regarding the quantitative easing programme.

Most analysts are expecting the BOE to announce pumping an extra £25billion into the economy this lunchtime and it may have already been factored into the market as the markets do move on rumour as well as fact. Should the BOE decide to go a little further and pump £50billion into the economy this could lead to major Sterling weakness however on the other side of things should they decide to leave any further QE for the time being we could see Sterling really rally.

My personal opinion is that it is a coin toss as to what will happen, if you go with the form of previous months the BOE will probably look to pump more money into the economy, leading to Sterling losing ground.

If I had to stick my neck out I would say that they are going to surprise us and hold fire with QE and see what happens over the next month.

Data of late has been much improved and personally as many major economists have mentioned it is working it is worth giving it more time to filter through.


THIS IS A BRIEF SUMMARY OF TODAY'S REPORT - SHOULD YOU REQUIRE FURTHER INFORMATION PLEASE DO NOT HESITATE TO CONTACT ME EITHER BY EMAILING HERE Email Me - OR CLICKING ON THE BANNER BELOW TO SEE TODAY'S FULL REPORT I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website

If you have the need to send money overseas or bring money into the U.K and want the best exchange rates and a great service just click on the links below to go straight to our main site and click on the register now button to open a free no obligation trading facility quoting DANIEL WRIGHT as your point of contact.

Have a great day and thanks for reading!

Daniel Wright