The success or failure of post Brexit negotations will dominate GBP trends and forecasts in 2020.
British Pound Sterling to Australian dollar bank forecasts
With such obvious post-Brexit negotation related uncertainties in play, analysts are reluctant to offer many GBP forecasts.
However, with the Bank of England (BoE) holding interest rates steady amid signs of a recovery in the health of the UK economy following the general election, the pound is showing strength against most currencies early in 2020.
The GBP to AUD exchange rate jumped to 1.97 in early February when Mark Carney – in his final press conference as Governor of the BoE – stated: “The UK economic performance has not been so far so good, but so far good enough. Although the global economy looks to be recovering, caution is warranted” and “Evidence of a pick-up in growth is not yet widespread.”
You can read more about GBP cross-rate forecasts here GBP Trends and Forecasts for 2020.