Australian dollar to British pound sterling forecasts
The Australian dollar has over the last 5 years experienced a long term increase against the pound, rising from around 46 pence before Brexit to remain on average above 50 pence ever since the surprise result, except for a brief drop during the market volatility of March at the height of the coranavirus panic.
Australia and the United Kingdom signed a free trade agreement in June 2020, which will make whisky and wine cheaper in both countries and reduce tariffs on speciality foods, also easing travel and work restrictions.
With such obvious post-Brexit negotiation related uncertainties in play, analysts are reluctant to offer many AUD/GBP forecasts.
However, with the Bank of England (BoE) holding interest rates steady amid signs of a recovery in the health of the UK economy following the general election, the pound is showing strength against most currencies early in 2020.
The AUD to GBP exchange rate dropped below 0.51 in early February when Mark Carney – in his final press conference as Governor of the BoE – stated: “The UK economic performance has not been so far so good, but so far good enough. Although the global economy looks to be recovering, caution is warranted” and “Evidence of a pick-up in growth is not yet widespread.”
AUD/GBP at 0.5575 was trading 5.5% aboveAVG:0.5284 with LO:0.4886 and HI:0.5583 (90 days). There are no current rate alerts.
Note that forecasts and predictions for the AUD/GBP exchange rate change all the time, affected by news events and relative sentiment towards the Australian and UK economies and this exchange rate is even more volatile than usual because of the uncertainties around Brexit.
What is a good AUD to GBP exchange rate?
This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.
The following table looks at the change in the AUD to GBP exchange rate to the present day for periods going back upto 10 years:
AUD/GBP historic rate
Change to 03-Jul
0.5564 26 Jun 2020
0.5509 03 Jun 2020
0.4888 04 Apr 2020
0.5583 04 Jul 2019
0.4811 05 Jul 2015
0.5619 06 Jul 2010
AUD/GBP 10 year historic rates & changes to 03-Jul-2020 : 0.5560
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