The energy crisis has taken over from the coronavirus pandemic as the main theme of GBP to AUD forecasts into 2022
The outlook for the pound for October is very uncertain due to rising inflation, slowing growth and unemployment, the combination of which could create a nightmare scenario for the Bank of England Monetary Policy Committee.
The energy crisis has pushed the Pound down against the Australian dollar plus AUD is benefiting from gas and coal prices increases.
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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 Aussie to pound sterling forecasts now expecting the GBP/AUD rate to be at A$1.88 by June 2022.
Westpac have changed their GBP-AUD forecast from 1.85 to 1.81 by the end of September, which is an upgrade from an earlier projection of 1.7857.
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.
You can read more about GBP cross-rate forecasts here GBP Trends and Forecasts for 2021.
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.