Exchange Rate Forecasts 2024

The British Pound will fall to levels last seen against the Euro during the crisis sparked by former Prime Minister Liz Truss when she introduced her controversial budget in September 2022.

Dollar weakness is a conviction call for 2024 at Amundi, Europe's largest asset manager.

The Canadian Dollar's recent run of strength is not built on a strong economic bedrock and a dovish tilt from the Bank of Canada will put the currency under pressure during 2024.

The Australian Dollar will outperform the Pound in 2024 as Chinese growth picks up thanks to the government's stimulus efforts and the UK economy struggles, sending the GBP/AUD exchange rate below 1.90.

The Australian Dollar will likely struggle in 2024 as global growth slows under the weight of the interest rate tightening cycle, drowning out any supportive impact from Australia's yield advantage.

One of the world's oldest independent research houses says the New Zealand Dollar "faces a much bigger risk of a decline in 2024" as the economy "is primed for recession".

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The Euro to Dollar exchange rate (EURUSD) looks set to struggle in 2024 and could disappoint those looking for a material fall in the Dollar.

The Bank of England will cut interest rates before the U.S. Federal Reserve and the European Central Bank, leading to a soft trajectory for the British Pound in 2024.

Bank of America's 2024 forecasts confirm it is more bearish on the U.S. Dollar than the consensus, with analysts saying Federal Reserve interest rate cuts "matter more for the market" than cuts at other central banks.