Australian Dollar Hits Highest

(Bloomberg) FX Signals — Australia’s dollar broke through 75 U.S. cents to its highest level in two-and-a-half years as investors ramped up bets on a successful vaccine roll-out and improving global growth.

The Aussie rose as much as 0.8% to 75.04 U.S. cents, the highest since June 2018.

Pound Australian Dollar (GBP/AUD) Exchange Rate Tumbles as Fears over UK GDP Slowdown Grow

Failure to Reach Brexit Breakthrough Drives Down Pound Australian Dollar (GBP/AUD) Exchange Rate
While the possibility of an agreement remains on the table the odds of a no-deal scenario rose markedly on Thursday, leaving GBP exchange rates on the back foot. Stocks Hit Limit Up

Forex Signals – The U.S. dollar was down

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With the UK economy already showing signs of a slowdown in the face of Covid-19 disruption and Brexit-based uncertainty the prospect of a greater deterioration in momentum weighed heavily on the Pound.

Slowdown in UK Growth Momentum Puts Pressure on GBP Exchange Rates
As the monthly UK gross domestic product reading for October fell in line with forecasts, dipping from 1.1% to just 0.4%, this added to the bearish mood of GBP exchange rates.

The sharp decline of the NIESR monthly GDP tracker for November offered additional evidence of weakness within the economic outlook.

GBP/AUD Exchange Rate Rallies

Even so, if the UK and EU can reach an agreement at the weekend this could see the GBP/AUD exchange rate rally sharply next week.

If the two sides manage to avoid a no-deal Brexit scenario the appeal of the Pound may improve sharply, buoyed by the reduced risk of an extended economic slowdown.

On the other hand, a lack of resolution for the Brexit situation could force GBP exchange rates to shed even further ground in the days ahead.

Pound to Australian Dollar (GBP/AUD)

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Dovish RBA Meeting Minutes Forecast to Weigh on Australian Dollar Demand
While a lingering sense of market risk appetite continued to support the Australian Dollar (AUD) this could prove fragile.

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If the minutes prove dovish in nature this could put AUD exchange rates under renewed pressure, with investors speculating over the possibility of further policy action to come in the months ahead. Forex Signals EURUSD Price Hits Resistance

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Any resurgent strength in the US Dollar (USD) could also weigh on AUD exchange rates, with risk sentiment likely to sour in the face of any signs of greater US economic resilience. Reserve Bank of Australia Monetary policy Meeting Minutes

Australian Dollar Hits Highest

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Australian Dollar Hits Highest

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Australian Dollar Hits Highest