GBP to AUD Forecasts
The Ukraine war and energy crisis has taken over from the coronavirus pandemic as the main theme affecting the GBP to AUD rate & forecasts.
BER ResearchGBP/AUD Outlook
In the first quarter 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.
Since then the pound-aussie rate has fluctuated around the 1.76 level (1 AUD = 0.56 GBP), but as we move through 2022 the prospect of more Australian interest rate rises sooner than expected could boost the Aussie dollar vs Sterling.
| Date | GBP/AUD | Change | Period |
|---|---|---|---|
20 Jun 2022 | 1.7573 | 0.3% ▲ | 2 Week |
05 Apr 2022 | 1.7240 | 2.2% ▲ | 3 Month |
04 Jul 2021 | 1.8397 | 4.2% ▼ | 1 Year |
05 Jul 2017 | 1.7016 | 3.6% ▲ | 5 Year |
06 Jul 2012 | 1.5159 | 16.3% ▲ | 10 Year |
09 Jul 2002 | 2.7250 | 35.3% ▼ | 20 Year |
Factors impacting the British Pound Sterling to Australian dollar exchange rate
The Sterling to Aussie exchange rate is even more volatile than usual because of the uncertainties around how the British economy will perform post-Brexit and the relative impact on the two economies of the Covid-19 pandemic and russian invasion of Ukraine.
AUD is widely expected to rise to US75¢ by the end of 2022. However along the way the Aussie is forecast to have a volatile year against a range of currencies.
The outlook for sterling looks challenging in its precarious economic environment. In June, OFX say the pound could trade against the euro between 1.19-1.16 EUR and against the USD between 1.21-1.27 USD.
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.
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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.
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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.