The success or failure of post Brexit negotations will dominate GBP trends and forecasts in 2020.
British Pound Sterling to US dollar bank forecasts
With such obvious post-Brexit negotation related uncertainties in play, analysts are reluctant to offer many GBP forecasts.
However, with the Bank of England (BoE) holding interest rates steady amid signs of a recovery in the health of the UK economy following the general election, the pound is showing strength against most currencies early in 2020.
The GBP to USD exchange rate jumped to 1.31 in early February when Mark Carney – in his final press conference as Governor of the BoE – stated: “The UK economic performance has not been so far so good, but so far good enough. Although the global economy looks to be recovering, caution is warranted” and “Evidence of a pick-up in growth is not yet widespread.”
GBP/USD at 1.2556 was trading 1% aboveAVG:1.2428 with LO:1.2083 and HI:1.2747 (90 days). ALERT: Today GBP/USD is DOWN 0.6%
13-JUL 5PM-NY 10PM-LON 14-JUL 5AM-HK 7AM-SYD
Note that forecasts and predictions for the AUD/GBP exchange rate change all the time, affected by news events and relative sentiment towards the Australian and UK economies and this exchange rate is even more volatile than usual because of the uncertainties around Brexit.
What is a good AUD to GBP exchange rate?
This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.
The following table looks at the change in the GBP to USD exchange rate to the present day for periods going back upto 10 years:
06 Jul 2020 : 1.2497
13 Jun 2020 : 1.2545
14 Apr 2020 : 1.2625
14 Jul 2019 : 1.2571
15 Jul 2015 : 1.5636
16 Jul 2010 : 1.5326
GBP/USD 10 year historic rates & changes to 13-Jul-2020 : 1.2556
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