The GBP to PHP exchange rate is currently bullish. Key drivers include the interest rate differentials, with the Bank of England expected to lower rates as inflation slows, while the Bangko Sentral ng Pilipinas has also signaled potential rate cuts. Economic growth in the UK is projected to decelerate, while GDP growth in the Philippines has faced downward revisions due to internal challenges.
Near-term, the GBP to PHP exchange rate is expected to remain within a stable range, reflecting minor fluctuations from the recent price levels. Upside risks include potential improvements in UK economic performance and positive fiscal developments, which could strengthen the pound. Conversely, downside risks may stem from ongoing fiscal concerns in the UK and political instability that could affect both the UK and the PHP's economic outlook.
The recent price of 79.50 is above the three-month average, indicating a modest strength of the GBP against the PHP, which has traded in a consistent range recently.