Analysis of recent Sterling → Aussie forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Pound Sterling to Australian dollar performance and trends.
Forecasts for GBP to AUD
Recent forecasts indicate a bearish outlook for the GBP to AUD exchange rate. The Pound (GBP) has been under pressure following comments from Bank of England (BoE) Governor Andrew Bailey, hinting at potential interest rate cuts in the near future. FX analysts project the GBP could continue its downward trajectory into the coming weeks as markets factor in the possibility of a rate cut in June. HSBC and RBC both anticipate the Pound falling further against the Australian Dollar (AUD), with projections ranging from $US1.20 to $US1.15 in the second half of the year. The risk of political uncertainty in the UK, coupled with the potential for a stagflationary environment, are seen as additional factors that could weigh on the GBP moving forward.
On the other hand, the Australian Dollar (AUD) faced challenges in February, driven by changing global rate expectations and lower commodity prices. Analysts expect the AUD to remain under pressure and trade within a range of 0.64 to 0.66 against the USD until there is more clarity on the trajectory of US rate cuts. The Reserve Bank of Australia (RBA) opting to leave rates unchanged has led to market expectations shifting towards potential rate cuts. Global economic conditions and US data releases are key factors influencing the AUD's performance. While the AUD is sensitive to developments in commodity prices and trade policies, uncertainties surrounding the economic outlook and global rates are likely to impact its value going forward.
Given the relatively stable trading range of the GBP to AUD pair around 1.9330, slightly above its 3-month average, FX analysts anticipate further volatility as market sentiment and central bank policies continue to shape the exchange rate. The combination of dovish signals from the BoE and the RBA, alongside broader economic factors, suggest that the GBP may continue to weaken against the AUD in the near term, with potential fluctuations based on upcoming data releases and central bank decisions.
@bestfxrates : 📉 Bearish on GBP/AUD as BoE’s Bailey hints at possible rate cuts. FX analysts expect a slide down from current 1.9330 levels, with HSBC & RBC projecting $1.20-$1.15. AUD also faces headwinds, but GBP under heavier pressure amid rate cut talks & UK political woes. #ForexUpdate #GBPAUD2024
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Compare & Save - Pound Sterling to Australian dollar
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Date
GBP/AUD
Change
Period
13 Mar 2024
1.9315
0.2% ▲
2 Week
28 Dec 2023
1.8655
3.7% ▲
3 Month
28 Mar 2023
1.8387
5.2% ▲
1 Year
29 Mar 2019
1.8389
5.2% ▲
5 Year
30 Mar 2014
1.7987
7.6% ▲
10 Year
01 Apr 2004
2.4176
20% ▼
20 Year
GBP/AUD historic rates & change to 27-Mar-2024
Will the Pound Sterling rise against the Australian dollar?
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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