The Australian dollar against the British Pound (AUDGBP) changes every second. This article shares bank forecasts to help you predict changes in the AUDGBP rate.
The 2022 Forecasts for the AUD to GBP are out now
With most of 2021 out of the way, attention turns to 2022.
Now that most economists have released their predictions for the Australian dollar, head here to find out the most up to date forecasts:
2021 AUD to GBP: Aussie to perform better than Pound
In 2021, the 'Big 4' major Australian banks forecast the AUDGBP exchange rate to rise slightly from the current exchange rate. Most banks expect a 5% recovery in international growth this year. Bank expect the Australian dollar to perform better than the Pound Sterling.
AUDGBP Bank expert rate forecasts 2021
Source: International bank forecast aggregate data
How will the AUDGBP perform in 2021?
Why is the AUDGBP rising?
There are many reasons why the Aussie dollar has been getting stronger relative to the British Pound.
These are the most likely:
- Vaccine rollout reduces coronavirus globally despite new strains
- Australian economy bounces back faster than the UK economy
- A weaker US dollar as the US economy struggles
- China’s demand for Australian commodities grow
- Economic growth on a global scale recovers
What do bank analysts think about the AUDGBP?
- Westpac – Predict the AUDGBP rate to be 0.5800 cents by December 2021
- CBA – CBA forecasts the AUDGBP rate to peak at 0.5760 cents by September, 2021, before falling below 0.5200 in December 2022
- NAB – NAB’s forecast shows the AUDGBP rate around 0.5500 cents by the end of 2021
3 Things to know about the AUDGBP
- AUD/GBP tells you how many Pound Sterling are needed to purchase one Australian dollar.
- The AUD/GBP can fluctuate quickly. That’s why money exchange services offer rate alerts to help you get the best exchange rate
- Australia and the UK currencies are strongly influenced by local economic data. Economists suggest the UK is on track for a faster economic rebound than previously thought due to a quick vaccine rollout.
AUD bank forecast major crosses for 2021
Latest AUD GBP news
There are many different influences over the local currency, increasing commodity prices appear to be the key driver of the recent rise of the Australian dollar. Prices of commodities like oil, wheat and nickel have soared recently on the back of the war in Europe. This has increased the demand for ‘commodity’ currencies like the Aussie dollar, helping it move higher against most major currencies including the US dollar, Euro and British pound. According to the Reserve Bank Australia There has been a close relationship between the terms of trade and the value of the Australian dollar over […]
This article looks at what the banks are predicting for the AUD to GBP exchange rate over the long term in 2022.
In the past 12 months, the Australian dollar has been sent lower against US dollar, New Zealand dollar and the British pound. The exchange rate is also slightly down against the Japanese yen and Euro. It’s largely because of two large influences over the Australia dollar – interest rates and commodity prices. The strength or weakness of the Australian dollar exchange rate is also impacted by the value of the other currency. For example, if the US dollar gets stronger in its own right, then all other things being equal, the Australian dollar will weaken and the AUD to […]