British Pound GBP Forecasts 2022
The UK is highly exposed to gas prices and inflation and the pound has been on the back-foot since mid 2021.
BER ResearchPound Sterling Outlook
The pound hit a 3-Year LOW in mid May near 1.22 against the greenback (1 USD = 0.81 GBP) — on the bleak outlook for the UK economy and after the Federal Reserve started its long anticipated increase of interest rates.
Also hanging over the head of the pound is the thread of a EU-UK trade war over Brexit.
| Date | GBP/USD | Change | Period |
|---|---|---|---|
06 May 2022 | 1.2342 | 1.2% ▲ | 2 Week |
19 Feb 2022 | 1.3594 | 8.1% ▼ | 3 Month |
20 May 2021 | 1.4184 | 12% ▼ | 1 Year |
21 May 2017 | 1.3011 | 4% ▼ | 5 Year |
22 May 2012 | 1.5772 | 20.8% ▼ | 10 Year |
25 May 2002 | 1.4544 | 14.1% ▼ | 20 Year |
GBP to USD
GBP to USD at 1.2508 is 3.2% below its 90-day average 1.292 with range 1.2197-1.3602. GBP/USD Rates
In mid May the GBP/USD exchange rate dropped below 1.22 after the Federal Reserve raised interest rates combined with the continuing impact of the Ukraine war on commodity prices.
The UK central bank raised rates by 25bps contrasting with the rate hike of 50bps by the US Federal Reserve. In conclusion, the BoE’s (UK bank) gloomy economic forecasts increased pressure on Sterling.
GBP to EUR
GBP to EUR at 1.1826 is just 0.8% below its 90-day average 1.1918 with range 1.1651-1.2109. GBP/EUR Rates
The BoE’s (UK central bank) gloomy economic forecasts has increased pressure on Sterling. In early May the pound plummeted when the BoE raised rates by just 25bps contrasting with the rate hike of 50bps by the US Federal Reserve.
GBP to AUD
GBP to AUD at 1.7713 is just below its 90-day average 1.7778 with range 1.7254-1.8920. GBP/AUD Rates
In February and March the GBP/AUD exchange rate dropped on the impact of the Ukraine situation on commodity prices — this was good for AUD and bad for GBP.
During April and May the pound-aussie rate improved back towards 1.78, but as we move through 2022 the prospect of more Australian interest rate rises sooner than expected could also boost the Aussie dollar vs Sterling.
GBP to INR
GBP to INR at 97.35 is 1.3% below its 90-day average 98.67 with range 94.44-101.7. GBP/INR Rates
The Ukrainian crisis and the risk-off market for European energy supplies have pushed the Canadian dollar down against the Rupee.
At the end of the January the CAD/INR exchange rate was heading towards the 59 mark down from its highs around 61 in October last year.
More Forecasts
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.