We forecast the Pound to struggle against the Australian Dollar in the week ahead owing to the strong likelihood that the Federal Reserve will cut interest rates by 50 basis points.
The Australian Dollar reached a one-week high following improved investor sentiment that followed a reboot in expectations for an outsized 50 basis point interest rate cut from the Federal Reserve.
Westpac's Australian Dollar Forecasts Show Strength Against Pound, Euro and U.S. Dollar
- Category: AUD
The Australian Dollar is predicted to strengthen against the Euro, Pound and U.S. Dollar over the next few months and through 2025, according to a major Australian lender.
The Pound to Australian Dollar exchange rate (GBP/AUD) is forecast to break above a key resistance line in the coming week amidst falling commodity prices and soft investor sentiment.