The GBP to VND exchange rate is currently range-bound, reflecting stable market conditions.
Key drivers include the interest rate differential, with the Bank of England expected to cut rates significantly by mid-2026, while the Federal Reserve may move cautiously. The UK's economic growth is projected to slow to 1.2%, which may further weigh on the pound. Meanwhile, Vietnam is expected to maintain GDP growth around 10% for 2026, which supports the stability of the VND.
In the near term, the GBP/VND exchange rate is expected to fluctuate within a stable range, influenced by recent trading around 35,361, showing a minor move above its 3-month average.
An upside risk could be stronger-than-expected UK economic data or more aggressive tightening by the BoE. Conversely, downside risks include heightened fiscal concerns in the UK or unfavorable political developments in Vietnam ahead of their legislative elections.