Analysis of recent Sterling → Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Pound Sterling to US dollar performance and trends.
Forecasts for GBP to USD
Recent exchange rate forecasts for GBP to USD have been mixed due to varying economic data and policy decisions affecting both currencies. The Pound (GBP) has been under pressure following softer wage growth and employment data in the UK, leading to expectations of a potential interest rate cut by the Bank of England (BoE). Despite some positive economic indicators such as strong retail sales and Services PMI data, GBPUSD experienced volatility, dropping briefly after a split MPC vote but later recovering ground.
On the other hand, the US Dollar (USD) has seen a rally as inflation unexpectedly accelerated, prompting a surge in the currency. The strong US jobs report and comments from the Federal Reserve signaling a delay in potential rate cuts have further boosted the Greenback. Analysts anticipate a potential rate reduction by the Fed in June, based on recent economic trends and market dynamics.
Given the recent stability in the GBPUSD exchange rate, hovering near its 3-month average around 1.2753, FX analysts anticipate ongoing volatility for the currency pair driven by upcoming economic data releases, monetary policy decisions, and geopolitical developments influencing both the Pound and the US Dollar.
@bestfxrates : #GBPUSD update: Mixed forecasts amid UK's soft wage growth & possible BoE rate cut pressure the Pound. Meanwhile, USD rallies on higher inflation & Fed's rate cut delay. Despite a volatile MPC vote dip, the Pound's stability near 1.2753 suggests more swings ahead. Watch key data! 🕰️ Mar 15
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Date
GBP/USD
Change
Period
04 Mar 2024
1.2689
0.3% ▲
2 Week
19 Dec 2023
1.2730
0% ▼
3 Month
19 Mar 2023
1.2187
4.4% ▲
1 Year
20 Mar 2019
1.3205
3.6% ▼
5 Year
21 Mar 2014
1.6487
22.8% ▼
10 Year
23 Mar 2004
1.8464
31.1% ▼
20 Year
GBP/USD historic rates & change to 18-Mar-2024
Will the Pound Sterling rise against the US dollar?
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Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more