GBP/AUD Exchange Rate Rallies

GBP/AUD Exchange Rate Buoyed by Brexit Hopes

The Pound to Australian Dollar (GBP/AUD) exchange rate is firming in early trade this week on hopes that a UK-EU trade deal could be close.

Pound (GBP) Firms on Cautious Brexit Optimism

After plunging at the end of last week amidst growing fears of a no-deal Brexit, the Pound (GBP) has opened this week on firmer footing, in response to some cautious optimism.

Trade talks between the UK and EU continued over the weekend, and while there has been no official word from either negotiation team, the UK’s foreign secretary Dominic Raab claimed on Sunday that the two sides are in the ‘last leg’ of talks.

Pound Set to Snap Losing Streak Vs US Dollar COVID-19

Raab suggested that talks were entering the ‘last major week’ and that an agreement remains a real possibility.

Daily Forex Signals

Dollar tries to keep rally alive in a short market

While, Raab’s upbeat assessment was welcomed by markets, GBP investors are all too aware that these ‘fairly narrow’ set of issues are the same issues that have plagued talks for months, with the UK and EU unable to see eye to eye regarding fishing rights and state aid.

GBP/EUR Exchange Rate Surges Past

With less than five weeks to go before the Brexit transition period is set to end, any upside potential in the Pound is likely to remain limited until a deal is struck.

Australian Dollar (AUD) Undermined as Australia-China Tensions Flare

At the same time the Australian Dollar (AUD) is struggling this morning amidst an escalation of political tensions between Australian and China.

Forex Signal Dollar Down Amid Rising U.S.- China Tensions

FX Signals

Australian Prime Minister Scott Morrison has demanded that China apologise for sharing the ‘repugnant’ image, something which China’s foreign minister has rejected.

The U.S. dollar was down

Tensions between Canberra and Beijing has risen sharply over the past year after the Australian government called for an international investigation into the outbreak of the coronavirus in China.

In response China has leveled tariffs against a number of Australian exports and even blocked the import of certain products such as coal.

Pound to Australian Dollar (GBP/AUD)

GBP/AUD Exchange Rate Rallies