Exchange Rate Forecast Today for the Pound Sterling, Euro, Swiss Franc, Yen and the US Dollar with Live Pound Sterling Conversions

The British Pound dropped sharply against all 16 of its major counterparts on Friday following the most recent comments from Bank of England Governor Mark Carney who suggested interest rates may stay at a record low for a longer period of time.

The ascent of Sterling over recent months could cause Inflation to stay low and mean that the Bank of England could keep its historically low levels for even longer.

Mark Carney, Governor of the Bank of England, said that the “protracted effects of sterling’s strength on the prices facing UK consumers” would continue to drive inflation lower.

Inflation is currently well below the Bank’s 2pc target, and this weakness in price growth could affect “the pace and degree” of changes to the central bank’s interest rates, Mr. Carney said.

Sentiment towards Sterling was mixed following his comments and the Pound Vs Euro dropped from a high at 1.4212 to now currently trade just above psychological support at 1.40.

A quick foreign exchange market summary before we bring you the rest of the report:

The Euro to British Pound exchange rate: EUR/GBP converts at 0.712.

The Pound to Euro exchange rate: GBP/EUR conversion is 1.405.

The Pound to US Dollar exchange rate today is converting at 1.475 GBP/USD.

The Pound to Canadian Dollar exchange rate today is converting at 1.885 GBP/CAD.

Please note: the currency rates listed above, updated as of 14th Mar 2015, are inter-bank values and aren’t generally available for international payments. Speak to a recommended FX provider to lock in the best foreign exchange rates.

British Pound to Euro Exchange Rate Today

The Pound to Euro rate remains one of the most bullish pairs in the market at present and with focus still very much on Greece and its current debt plan its likely the euro will remain under pressure going forward.

The Pound Dollar exchange rate has also seen a big move on Friday as markets became risk averse on the back of the latest Michigan consumer sentiment survey.

Michigan Consumer Sentiment for February came in at 95.4, up from its 93.6 Februarys preliminary reading but down 2.7 points from the final reading of 98.1 in January, which was an eleven-year high.

Given the negative impact of the weather, we may see a rebound in the Michigan index this spring (and maybe even later this month, as the final reading incorporates responses from the mid-March thaw),” wrote Guy Berger, economist at the Royal Bank of Scotland, in a research note.

British Pound to Dollar Exchange Rate Today

The Pound to Dollar rate reacted to the data and dropped sharply from a high at 1.4894 to reach a daily low at 1.4708, down we4ll over 1% from the London opening.

With ongoing geo-political tensions and a risk averse market, it’s likely the US Dollar will continue its bullish momentum against Sterling, possibly testing the upper resistance at 1.42 in the coming weeks.

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