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AUD currency update: GBP/AUD rises after snap UK general election

James Baxter - AUD currency update: GBP/AUD rises after snap UK general election James Baxter
Senior Currency Broker
T: 01442 892 062

GBP/AUD rose around 5 cents yesterday as the pound gained significant ground across the board following Theresa May’s announcement that she’d be calling a snap general election, scheduled for June 8th.

As a result, the pound rose to a 10 week high against a basket of currencies, climbing against the Aussie to levels not seen since the end of 2016.

There are no data releases to note from either country today, other than some minor vehicle sales numbers from Australia this morning, so we may see a continuation of yesterday’s trend.

At the time of writing, GBP/AUD is trading at 1.71 and AUD/EUR is sitting at 0.70.

GBP/AUD exchange rate graph

GBP/AUD exchange rate graph

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James Baxter
Senior Currency Broker
T: 01442 892 062

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