Pound to Australian Dollar Forecast Guide for end-2024: Big Investment Banks See Losses Ahead
- Written by: Gary Howes
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The Pound is richly valued against the Australian Dollar and could fall.
Corpay has released its latest forecast guide detailing where the big investment banks predict the Pound to trade against the Australian Dollar by year-end and into 2025.
The survey of investment and institutional forecast targets means we can arrive at a consensus estimate that gets us as close to the 'perfect' forecast as is possible.
The guide can be requested here.
The Pound to Australian Dollar exchange rate (GBP/AUD) is currently quoted at 1.9472, which puts it some 200 pips above the mean forecast for year-end.
That said, the consensus has been playing catchup with the Pound all year, vastly underestimating its upside potential.
In December 2023, the median forecast for the end of 2024 stood at 1.84, resulting in a series of upgrades over recent months.
However, the current year-end prediction looks to be well placed, given the GBP/AUD has fallen from 2024 highs and appears to be correcting lower amidst broad-based AUD outperformance.
Looking ahead, the highest single forecast for GBP/AUD made by any single investment bank for the medium term is set at 2.03.
The lowest target is set at 1.83.
Investment bank GBP/AUD consensus forecasts: The end-2024 and 2025 guide from Corpay has been released. Featuring the median, mean, high and low points forecasted by over 30 investment banks. Please request a copy here.
