Exchange rate forecasts slashed for british pound, euro and us dollar conversion rates (gbp-eur-usd) convert usd to rupees


Though the Bank of England kept rates and asset-purchase unchanged last week, they did not rule out further easing if the economy warranted gold price per gram. On the other hand, the US Fed meets this week to decide on a rate hike.

Though the economic indicators have been robust in the UK with little signs of any adverse effect of the Brexit, traders are concerned about the news that the Brexit discussions are likely to be tough, which might lead to another round of easing by the BoE.

Reports in the Telegraph newspaper that the UK is likely to face a “bureaucratic nightmare”, according to unidentified senior EU officials, also pointed to another round of easing.

“Some of the political discontent we’ve seen recently has revived the concerns around what the Brexit will really look like,” said Chris Chapman, a London-based trader at Manulife Asset Management.

“We still believe the pound will go lower australia to us exchange rate. The BOE is acknowledging the recent recovery in economic indicators but also remains cautious as it considers the longer-term impacts of Brexit uncertainty,” reports Bloomberg.

NB: the forex rates mentioned above, revised as of 10th Sep 2017, are inter-bank prices that will require a margin from your bank new york stock exchange futures. Foreign exchange brokers can save up to 5% on international payments in comparison to the banks.

The GBP/USD, which has been consolidating in a range, following the sharp fall post-Brexit is likely to test its lows again dollar inr rate today. Friday’s trading saw a sharp plunge in the pair, which is likely to threaten the lows at 1.278, in the coming weeks.

A break below the lows will be detrimental for the pair, as it opens up a lower pattern target of 1.20 python print format. On the other hand, if the lows hold, the pair is likely to continue its range bound trading.

"Cable losses accelerated Friday, with the market extending lower, below the base of the short-term bear channel that formed off the early September peak (now intraday resistance at 1.3074)."

"A low weekly close Friday has formed the third leg of a longer-term bear reversal (“evening star”) usd exchange rate in inr. This implies more downside risk to the GBP overall and should mean limited upside risk for Cable in the event of short-term spikes kurs usd rupiah. We think the 40-day MA at 1.3060 represents major resistance for the GBP now."

Slowest wage growth in six years and an annual inflation rate of 0.2% in August point to the anemic recovery in the euro zone usa today newspaper online. Though the ECB kept rates and asset-purchase unchanged in their last meeting, ECB President Mario Draghi had made it clear that “the case for higher wages is unquestionable.”

Trade surplus in July declined from €23.8 billion in June to €20 billion in July, led by a drop of 1.1% in exports of goods and a rise of 1.4% in imports.

“A weakened performance in July fuels concern that traded goods exports will be of little help to eurozone…growth,” said Howard Archer, an economist at IHS Global Insight, reports The Wall Street Journal.

"In the absence of a clear sense of direction and purpose the EU is likely to behave defensively and seek to maintain the delicate constellation of political bargains that constitutes the status quo.

The lack of vision in the rest of the EU will create problems for the U.K. as it negotiates its exit," said David Mackie and Malcolm Barr, economists at JP Morgan in a report to clients, reports Bloomberg.

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