The GBP to USD exchange rate is one of the most interesting/tricky 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.
BER Research GBPUSD is down around 15 percent this year and hit an all-time low (since decimalisation in 1971) in late September of 1.03 (1 USD = 0.97 GBP) — reacting to the controversial tax-cutting policies from the previous (new) chancellor.
The Bank of England has joined the global fight against inflation, but has raised rates by less than the US Federal Reserve.
So it seems the BoE’s gloomy economic forecasts has increased pressure on Sterling.
| Date | GBP/USD | Change | Period |
|---|---|---|---|
14 Nov 2022 | 1.1752 | 1.7% ▲ | 2 Week |
30 Aug 2022 | 1.1659 | 2.5% ▲ | 3 Month |
28 Nov 2021 | 1.3341 | 10.4% ▼ | 1 Year |
29 Nov 2017 | 1.3417 | 10.9% ▼ | 5 Year |
30 Nov 2012 | 1.6021 | 25.4% ▼ | 10 Year |
03 Dec 2002 | 1.5646 | 23.6% ▼ | 20 Year |
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.
Loading rates...
| Provider | Amounts | Rate | Total Cost | |
|---|---|---|---|---|
|
|
|
|||
|
|
|
|||
|
|
|
|||
|
|
|
‘Cable’ is the slang term used by forex traders for the pound-to-dollar foreign exchange rate. The term originated in the late 19th century, when it became possible to wire the exchange rates between US dollars and British pounds across the Atlantic Ocean by means of a transatlantic cable. Ever since then, these values are also called ‘the cable.’
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 pound hit an all-time low (since decimalization in 1971) in late September of 1.03 against the greenback (1 USD = 0.97 GBP) — reacting to the controversial tax-cutting policies from the new chancellor.
The outlook for sterling against most currencies over the winter remains extremely challenging in its precarious post-Brexit/Ukraine war economic environment.
Economists expect the US dollar’s strength over the past year to reverse in 2023 as the Fed’s interest rate hikes cycle to an end.
A clear reflection of this is that the US Dollar index (measure of the USD strength against basket of currencies) which has pulled back from 20 year highs.
To consider the current GBP-USD relative value you can check the change in the exchange over a range of periods to the present day. The table above does this for periods going back 20 years.
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.