The energy crisis has taken over from the coronavirus pandemic as the main theme of GBP to AUD forecasts into 2022
Late January the GBP/AUD exchange rate has dropped from 17-week highs as investors became worried about the state of the pound sterling.
The future of the British pound is unknown as there are talks that investigations into the Downing Street parties could cost Boris Johnson his job, even though he has been trying to remove all virus restrictions and improve his poll numbers.
Both economies have recovered from recent lockdowns and virus struggles, but the Aussie dollar is poised to gain even more after the RBA’s interest rate expectations were brought forward.
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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.
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