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AUD to GBP Forecast

The success or failure of post Brexit negotations will dominate AUD/GBP trends and forecasts in 2020.

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.”

You can read more about AUD cross-rate forecasts here AUD Trends and Forecasts for 2020.

AUD/GBP - 90 day trend
AUD/GBP at 0.5575 was trading 5.5% above AVG: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 rateChange to 03-JulPeriod
0.5564  26 Jun 20200.1% ▼1 Week
0.5509  03 Jun 20200.9% ▲30 Days
0.4888  04 Apr 202013.7% ▲90 Days
0.5583  04 Jul 20190.4% ▼1 Year
0.4811  05 Jul 201515.6% ▲5 Years
0.5619  06 Jul 20101.1% ▼10 Years
AUD/GBP 10 year historic rates & changes to 03-Jul-2020 : 0.5560
 
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.
 
 

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