The GBP to USD exchange rate has been and remains one of the most interesting currency pairs to forecast. The GBP/USD can be affected by a number of factors and this makes it a volatile exchange rate at times.
The UK central bank raised rates by 25bps contrasting with the rate hike of 50bps by the US Federal Reserve. In conclusion, the BoE’s (UK bank) gloomy economic forecasts increased pressure on Sterling.
06 May 2022
19 Feb 2022
20 May 2021
21 May 2017
22 May 2012
25 May 2002
The pound hit a 3-Year LOW in mid May near 1.22 against the greenback (1 USD = 0.81 GBP) — on the bleak outlook for the UK economy and after the Federal Reserve started its long anticipated increase of interest rates.
Also hanging over the head of the pound is the thread of a EU-UK trade war over Brexit.
The US Dollar has proven itself to be a safe haven amid the Ukraine-Russia conflict as investors seek refuge from the uncertainty.
Whether the US dollar will rise or drop in the future against the pound is a difficult question and the answer really depends on many factors. The best way to consider the current GBP-USD relative value is to check the change in the exchange over a range of periods to the present day. The above table does this for periods going back 20 years.
The best way to get a good GBP/USD exchange rate is to compare bank and FX providers.
The FX providers below are among the best in the industry. They have an extensive range of offerings, including advice, online tools to help with your exchange rates, and low or even zero fees.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.