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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 GBP to USD exchange rate forecasts suggest a mixed outlook for the British pound in the coming months. The pound's performance is influenced by uncertainties surrounding the possibility of an August interest rate cut by the Bank of England. Analysts are closely monitoring key economic indicators such as services inflation and wage growth in the UK to gauge the likelihood of a rate reduction, which could impact the pound's value against the US dollar. Additionally, political uncertainties in the UK, including the upcoming government vote and the risk of a stagflationary environment, are identified as potential negative factors for the pound. HSBC anticipates the pound falling to $1.20 in the second half of the year, while RBC predicts a decline towards $1.15.

    On the other hand, the US dollar has been strengthening as a safe-haven currency amid downbeat global market conditions. Despite the lack of fresh US data and retreating Treasury bond yields, the 'greenback' has seen a moderate increase. Analysts await the release of the latest US services PMI, with expectations of a pullback from a two-year high in July, which could influence USD exchange rates. Economic factors in the US, such as the robust job market and inflation pressures, are contributing to the Federal Reserve's stance on holding interest rates higher for a longer period. The US dollar's performance is closely tied to market sentiments and investor risk appetite, with speculation on potential rate cuts and interventions by central banks like the European Central Bank and the Bank of Japan affecting its movement.

     
    @bestfxrates : Mixed outlook for GBPUSD as analysts eye potential BoE rate cut. HSBC sees fall to $1.20, RBC to $1.15 amid UK political uncertainty and stagflation risks. Meanwhile, USD holds firm as a safe haven, with market watching US services PMI data and Fed's stance on rates. #GBPUSD #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 =
    1.2862We compare provider deals to this wholesale mid-market rate. Read more
    USD
    +0.0%
    1W
    GBP to USD is at 7-day lows near 1.2907, 1.5% above its 3-month average of 1.2718, having traded in a quite stable 4.2% range from 1.2487 to 1.3009
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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
    10 Jul 2024
    1.2854
    0.4% 2 Week
    25 Apr 2024
    1.2507
    3.2% 3 Month
    25 Jul 2023
    1.2894
    0.1% 1 Year
    26 Jul 2019
    1.2383
    4.2% 5 Year
    27 Jul 2014
    1.6978
    24% 10 Year
    29 Jul 2004
    1.8155
    28.9% 20 Year
    GBP/USD historic rates & change to 24-Jul-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