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GBP to AUD Forecasts

The effects of the coronavirus pandemic plus success or failure of post Brexit negotiations will dominate GBP to AUD trends and forecasts in 2020.

British Pound Sterling to Australian dollar bank forecasts

Forecasts and predictions for the GBP/AUD exchange rate change all the time, affected by news events and relative sentiment towards the Australian and UK economies and interest rates.

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.

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.

The pound continues to show resilience despite challenging economic conditions, with direction being driven by Brexit and COVID-19 headlines. In early December, the news that the UK will be the first western country to approve a COVID-19 vaccine and optimism around the Brexit trade deal, saw GBP benefit.

However the strong Aussie dollar has lowered GBPAUD from its October 22 high of 1.84 to 1.77-78.

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.

 

GBPAUD Trend & Alerts

GBPAUD at 1.7641 is 1.9% below its 90-DAY average, range 1.7440-1.8472.
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You can read more about GBP cross-rate forecasts here GBP Trends and Forecasts for 2020.

 

GBP to AUD Exchange Rates – Compare and Save

 

What is a good GBP to AUD exchange rate?

Whether the pound will rise or drop in the future against the Aussie dollar is a difficult and the answer really depends on many factors. The best way to consider the current GBP-AUD relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.

GBP/AUDChangePeriod
1.7465
08 Jan 2021
1% ▲1 Week
1.7837
16 Dec 2020
1.1% ▼30 Days
1.8239
17 Oct 2020
3.3% ▼90 Days
1.8957
16 Jan 2020
6.9% ▼1 Year
2.0804
17 Jan 2016
15.2% ▼5 Years
1.6022
18 Jan 2011
10.1% ▲10 Years

GBP/AUD 10 year historic rates & change to 15-Jan-2021 : 1.7641

 
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.