Australian Dollar Forecasts – 2020 Overview

Forecasts and predictions for the Australian dollar change all the time, affected by news events and relative sentiment towards the Australian economy. This continually updated article reviews AUD bank forecasts and popular cross-rate trends.

Australian dollar in the markets

The bleak outlook in the US has added downward pressure on the world’s base currency and helped consolidate the Aussie dollars’ upturn. Although the Australian dollar has recently edged through the key 0.72 handle, a sustained move above this level has been hard to come by.

Further uncertainty in the US could push the AUD through 0.72 US cents.

In the second quarter of 2020 AUD staged a rapid recovery through the months of April, May and into June up 25% from its mid-March lows to US70c in early June. This is due more to the perceived benefits to Australia of an awakening post-pandemic Chinese economy than the political-social situtation in the US dpressing the USD.

The Aussie had been savaged in March sliding to US55 cents the lowest since 2003. Growing fears of the coronavirus outbreak moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.

The virus was a double blow to the Aussie after the earlier threat of proxy war between the US and Iran in Iraq had also pared back some of the gains the Aussie had made coming into the New Year.

The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead.

The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year. During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely.

The following sections show a summary of bank forecasts for popular AUD cross rates that we have reviewed, you can view each forecast article for more details.


Read more about FX Broker and Bank analysts’ predictions for AUD to USD future trends in our blog article BER Review of AUD to USD Broker & Bank Forecasts.

AUD/USD - 90 day trend
AUD to USD at 0.7148 was trading 4.2% above AVG:0.6861 with LO:0.6402 and HI:0.7235 (90 days). There are no current rate alerts.


NAB have revised upwards their pound sterling forecasts now expecting the GBP/USD rate to be at US$1.47 by June 2022, up from their previous forecast of US$1.39. For 2020, it sees GBP at US$1.36 by year-end, up from a predicted US$1.30.

US dollar weakness has helped the embattled pound continue its recovery off June and early July lows. Despite this brief upturn, the outlook remains pessimistic as Brexit uncertainty and questions over the economy’s ability to rebound after the pandemic weigh on the currency. August Currency Update

Read more about FX Broker and Bank analysts' predictions for GBP to AUD future trends in our blog article GBP to AUD Broker & Bank Forecasts.

AUD/GBP - 90 day trend
AUD to GBP at 0.5471 was trading near AVG:0.5453 with LO:0.5131 and HI:0.5607 (90 days). There are no current rate alerts.


The euro is currently a more appealing investment than the US dollar as fiscal support and COVID-19 containment open the door to a faster paced recovery than what is likely in the US. With current USD weakness and strong long-term prospects for the European Union, there is speculation that the euro could be a contender as the world’s new reserve currency. In the short term the euro could be susceptible to swings, however in the longterm the euro has very good prospects. August Currency Update

Read more about FX Broker and Bank analysts' predictions for AUD to EUR future trends in our blog article AUD to EUR Broker & Bank Forecasts.

AUD/EUR - 90 day trend
AUD to EUR at 0.6049 was trading 0.4% below AVG:0.6076 with LO:0.5844 and HI:0.6216 (90 days). ALERT: AUD/EUR dropped to 60-DAY LOWS.


National Australia Bank (NAB) have revised upwards their Aussie/Kiwi dollar forecasts now expecting the AUD/NZD rate at NZ$1.09 by June 2022, up from their previous forecast of NZ$1.06.

For 2020, NAB sees the Australian dollar at NZ$1.09 by year-end, down a little from the previous predicted NZ$1.10.

Although New Zealand has nearly eliminated COVID-19 and wound back restrictions, its international borders are likely to be closed until 2021. This means the economy will be slower to rebound as its reliance on tourism outweighs that of major counterparts. Despite the New Zealand economy’s reliance on tourism, the NZD has been well supported by positive risk sentiment, higher NZ–US short term yields and robust commodity prices. August Currency Update

Read more about FX Broker and Bank analysts' predictions for AUD to NZD future trends in our blog article AUD to NZD Broker & Bank Forecasts.

AUD/NZD - 90 day trend
AUD to NZD at 1.0918 was trading 1.9% above AVG:1.0711 with LO:1.0571 and HI:1.0918 (90 days). ALERT: AUD/NZD rose to 90-DAY HIGHS.


AUD/JPY - 90 day trend
AUD to JPY at 76.44 was trading 4.1% above AVG:73.44 with LO:67.93 and HI:76.56 (90 days). There are no current rate alerts.


AUD/HKD forecasts are influenced by three factors; the coronavirus impact on and response by both economies, changes in the delta between interest rates in Australia and the US (as HKD is pegged to USD) and also the trade war between China and the US and increasingly Australia.

Read more about FX Broker and Bank analysts' predictions for AUD to HKD future trends in our blog article AUD to HKD Broker & Bank Forecasts.

AUD/HKD - 90 day trend
AUD to HKD at 5.5398 was trading 4.2% above AVG:5.3183 with LO:4.963 and HI:5.6076 (90 days). There are no current rate alerts.

What is a good Australian Dollar exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate’s current relative value is to look at the Australian dollar’s history against a range of currencies and in particular against the currency you are interested in exchanging it with.

For example, the following tables look at the change in the AUD exchange rate to the present day for periods going back 10 years for popular AUD exchange rates.

AUD/USD rateChangePeriod
06 Aug 2020 : 0.72311.1% ▼1 Week
14 Jul 2020 : 0.69882.3% ▲30 Days
15 May 2020 : 0.641511.4% ▲90 Days
14 Aug 2019 : 0.67545.8% ▲1 Year
15 Aug 2015 : 0.73793.1% ▼5 Years
16 Aug 2010 : 0.895520.2% ▼10 Years

AUD/USD 10 year historic rates & change to 13-Aug-2020 : 0.7148

AUD/GBP rateChangePeriod
06 Aug 2020 : 0.55040.6% ▼1 Week
14 Jul 2020 : 0.55591.5% ▼30 Days
15 May 2020 : 0.52993.3% ▲90 Days
14 Aug 2019 : 0.56012.3% ▼1 Year
15 Aug 2015 : 0.471616.1% ▲5 Years
16 Aug 2010 : 0.57244.4% ▼10 Years

AUD/GBP 10 year historic rates & change to 13-Aug-2020 : 0.5473

AUD/EUR rateChangePeriod
06 Aug 2020 : 0.60890.6% ▼1 Week
14 Jul 2020 : 0.61241.2% ▼30 Days
15 May 2020 : 0.59282.1% ▲90 Days
14 Aug 2019 : 0.60610.2% ▼1 Year
15 Aug 2015 : 0.66428.9% ▼5 Years
16 Aug 2010 : 0.698213.3% ▼10 Years

AUD/EUR 10 year historic rates & change to 13-Aug-2020 : 0.6051

AUD/NZD rateChangePeriod
06 Aug 2020 : 1.08200.9% ▲1 Week
14 Jul 2020 : 1.06792.2% ▲30 Days
15 May 2020 : 1.08101% ▲90 Days
14 Aug 2019 : 1.04904% ▲1 Year
15 Aug 2015 : 1.12843.3% ▼5 Years
16 Aug 2010 : 1.268414% ▼10 Years

AUD/NZD 10 year historic rates & change to 13-Aug-2020 : 1.0913

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.