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The Pound to Australian Dollar exchange rate has established a foothold above the 1.80 handle over the course of December while continuing to test technical resistance just above the 1.82 level in recent trade and directional risk likely remains tilted toward the upside heading into the festive holidays.
AUD forecast to strengthen in 2023 by NAB.
The Pound to Australian Dollar exchange rate has established a foothold above 1.80 thus far in December but would risk falling back 1.79 in the days ahead if Thursday's Bank of England (BoE) decision rocks the boat for Sterling or if the Aussie continues to outperform over the remainder of the week.
Australian interest rates are unlikely to rise as high as they will in other developed nations, implying a 'carry disadvantage' that leaves analysts at NatWest Markets bearish on the Australian Dollar for 2023.
The Pound to Australian Dollar exchange rate has reversed two thirds of a steep 2022 decline during its recovery from September's multi-year lows but a buoyant antipodean currency and technical resistance on the charts has stalled the rebound near 1.82 amid mounting uncertainty about the outlook.
GBP/AUD is forecast to fall back to levels last seen in 2013, according to new forecasts released by Rabobank.
RBA hikes 25bp, In line with expectations, AUD receives a boost.
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