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    GBP to USD 2024 Forecasts

    Analysis of recent Sterling → Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Pound Sterling to US dollar performance and trends.

     

    Forecasts for GBP to USD

     

    Recent forecasts and updates for the GBP to USD exchange rate suggest a mixed outlook for the British pound. The GBP has been buoyed by positive risk sentiment and encouraging economic data, but the messaging from the Bank of England (BoE) indicating a possible interest rate cut has put pressure on the pound. The potential for a shift to lower borrowing costs in the UK has led to expectations of a rate cut in June, aligning with anticipated moves from the US Federal Reserve and the European Central Bank.

    Analysts from HSBC and RBC are predicting further weakening of the GBP against the USD in the second half of the year, with estimates ranging from $1.15 to $1.20. The ongoing Brexit uncertainty and the potential for a change in the UK government later in the year are cited as additional risks that could negatively impact the pound. Despite trading close to its 3-month average at around 1.2670, the GBPUSD exchange rate has shown stability within a relatively narrow range of 4.1% between 1.2350 and 1.2861, reflecting the cautious sentiment in the currency markets.

    The US dollar, on the other hand, has faced pressure from declining US inflation and weaker retail data, leading to expectations of possible rate cuts by the Federal Reserve. The upcoming CPI data will be closely watched for further insights into the direction of USD movements. While European inflation remains steady and the US economy continues to perform well, market speculation around rate cuts by major central banks is contributing to the volatility in currency markets. Overall, the GBPUSD exchange rate is expected to be influenced by a combination of economic data releases, central bank policies, and geopolitical developments in the coming months.

     
    @bestfxrates : Mixed outlook for GBPUSD: BoE's hint at rate cut pressures pound, counterbalanced by positive eco data. Narrow trading range observed. HSBC & RBC forecast potential drop to $1.15-$1.20 amid Brexit woes. Market eyes CPI data & central banks' moves for future rate directions. #ForexUpdate

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    GBP to USD Market Data

    Pound Sterling (GBP) to US dollar (USD) market data - latest interbank exchange rate, trend, chart & historic rates.

     
    1 GBP =
    1.2705We compare provider deals to this wholesale mid-market rate. Read more
    USD
    +0.3%
    1M
    GBP to USD is at 30-day highs near 1.2702, just 0.7% above its 3-month average of 1.2609, having traded in a quite stable 4.1% range from 1.2350 to 1.2861
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    Compare & Save - Pound Sterling to US dollar

    Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Pound Sterling (GBP) to US dollar (USD) rates from different sources before making a conversion.

    Use our GBP to USD calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Sterling to Dollar currency rates and the possible savings of using various providers.

     
    DateGBP/USDChangePeriod
    03 May 2024
    1.2549
    1.2% 2 Week
    17 Feb 2024
    1.2602
    0.8% 3 Month
    18 May 2023
    1.2412
    2.4% 1 Year
    19 May 2019
    1.2731
    0.2% 5 Year
    20 May 2014
    1.6838
    24.5% 10 Year
    22 May 2004
    1.7902
    29% 20 Year
    GBP/USD historic rates & change to 17-May-2024
     

    Will the Pound Sterling rise against the US dollar?

    It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

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    Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.

     
     

    Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more