Today's Pound Sterling to New Zealand Dollar and Euro (GBP-NZD, GBP-EUR) Exchange Rate Report and Live Rates / Forecast
The Pound has endured a difficult week and fell to new lows below the 1.36 level against the Euro on Thursday, at one point trading under 1.3550, to cap a significant weekly decline from the 7-year high of 1.4150 last week. The UK currency has managed to recover elsewhere though, rising through 1.54 versus the U.S Dollar with the upward surge largely driven by a strong move north on EUR/USD. The Pound also made widespread gains against the commodity-driven currencies, rising through the 2.00 level versus the Australian Dollar, from a low of 1.9670 earlier in the day. Sterling also traded through 2.16 versus the New Zealand for the first time in more than five years and peak above 19 versus the Rand. Commodity prices have continued to decline through the week and that would be the reason for the this move, although there is a high probability of a New Zealand rate cut on the 10th June.
On Saturday the Euro to British Pound exchange rate (EUR/GBP) converts at 0.862
The GBP to EUR exchange rate converts at 1.16 today.
The pound conversion rate (against pound) is quoted at 1 GBP/GBP.
Today finds the pound to canadian dollar spot exchange rate priced at 1.701.
At time of writing the pound to swiss franc exchange rate is quoted at 1.126.
NB: the forex rates mentioned above, revised as of 20th Apr 2024, are inter-bank prices that will require a margin from your bank. Foreign exchange brokers can save up to 5% on international payments in comparison to the banks.
Exchange Rates Today: Bank of England holds Rate
The Bank of England interest rate announcement was the only event of note on Thursday and it turned to be a non-event in truth with policy makers holding interest rates unchanged in what was likely a unanimous decision.
The lack of any accompanying statement means we will have to wait until the minutes of the meeting are released in two weeks time to gauge the chances of a 2015 rate increase.
However, with UK inflation at zero and recent reports indicating the economy is stuttering, it remains increasingly likely that the MPC will leave rates unchanged until well into next year. The International Monetary Fund urged the Federal Reserve to delay any rise in interest rates until 2016.
Pound to Dollar Exchange Rate Forecast
The managing director Christine Lagarde said that the FOMC should wait for more tangible signs of wage or price inflation and believes that pockets of vulnerability in the U.S economy have emerged.
The focus today will fall on the U.S employment report with non-farm payrolls expected to show that 227,000 jobs have been added in May with the jobless rate unchanged at 5.4%.
Average earnings are also expected to have edged higher but this set of data is notoriously difficult predict, which could result in heightened market volatility.
GBP, EUR, USD Related Data Released 5th June 2015
EU 10:00 GDP (Q1: Second Reading)
U.S 13:30 Non-Farm Payrolls (May)
- Unemployment
- Average Earnings
U.S 20:00 Consumer Credit (April)