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 outlook for the pound for October is very uncertain due to rising inflation, slowing growth and unemployment, the combination of which could create a nightmare scenario for the Bank of England Monetary Policy Committee.
OFX predict the GBP could range between 1.33 – 1.38 USD in October.
04 Oct 2021
20 Jul 2021
18 Oct 2020
19 Oct 2016
21 Oct 2011
23 Oct 2001
The USD had a strong month in September, outperforming all the G10 currencies. The gains can be attributed to more ‘hawkish’ commentary from the US Federal Reserve, especially in comparison to the European Central Bank.
According to OFX the USD trend for October is unclear.USD Outlook
Last year the pound hit its highest level vs the US dollar since April 2018 against the US dollar on the final day of the year and has since continued higher to 3-YEAR-HIGHS around $1.40. Markets remain optimistic about GBP as the rollout of Covid-19 vaccines add to the currency’s relief rally following the Brexit trade deal.
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 10 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.