Brexit and 2019's RBA policy shift are the dominating themes for GBP/AUD. A "no deal" Brexit is likely to induce exchange rates near A$1.60, HSBC has said.
British Pound Sterling to Australian dollar bank forecasts
With such obvious Brexit related uncertainties in play, analysts are reluctant to offer GBP forecasts. It is perhaps telling, though, that longstanding pound supporter Nomura decided in mid-May to terminate its buy recommendation on the currency.
Should Boris Johnson replace Theresa May as UK PM, a further decline in GBP/AUD below 1.75 is “very feasible,” one analyst said.
No-deal would have GBP/AUD at 1.60 according to HSBC.
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