British Pound forecasts: RBS currency analysts see GBP heading higher vs USD and EUR
- Details
- Category: Exchange Rates
- Published on Tuesday, 23 August 2011 10:20
- Written by Will Peters
Latest forecasts for the pound sterling from RBS.
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Our latest quote on the pound euro exchange rate is at 1.149, while our latest quote on the pound dollar exchange rate is at 1.649.
In one years time the pound euro is seen at 1.197. The pound dollar exchange rate is seen at 1.676.
As the above currency forecasts show - there is not likely to be any major moves in either currency pair.
"The technical outlook is mixed. The two clear levels to watch are 1.1550 on the upside (we've been repelled from here twice in August) and 1.1260 on the downside. A daily close beyond one of these levels should set the tone. In the meantime there is little in the way of clear direction," says a note released by Adam Solomon, an exchange rate analyst at UK money transfer company Tor Fx.
Latest euro exchange rate news
The ECB's purchase of Italian and Spanish government bonds has focused market attention on potential limits to ECB bond buying and successful sterilisation of these purchases
"We do not see any technical limit to the size of ECB bond purchases that can be sterilised. The only technical impediment seems to be related to times when the overnight rate is above the refi rate, which increases the chance of only partial sterilisation," says a currency note released by RBS today.
Five previous weekly failures to fully sterilise ECB bond purchases are related to occasions of specific liquidity pressure on bank balance sheets (eg. quarter-end) and when market rates have made the weekly fixed-term deposits unattractive.
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