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
The pound strength so far in 2021 hit a snag in early April on concerns relating to AstraZeneca shot around which the planned opening of the U.K. economy is heavily dependent on.
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.
However the pound has shown resilience despite challenging economic conditions, with direction being driven by Brexit and COVID-19 headlines.
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. For 2020, it sees GBP to remain at A$1.81 at year-end.
GBPAUD at 1.7873is just below its 90-day average, 1.7624-1.8180 range.
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.
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.
09 Apr 2021
17 Mar 2021
16 Jan 2021
16 Apr 2020
17 Apr 2016
19 Apr 2011
GBP/AUD 10 year historic rates & change to 16-Apr-2021 : 1.7873
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