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GBP/AUD Exchange Rate Slides despite Brexit Delay

Last week’s high: AU$1.8428

Last week’s low: AU$1.8246

 

Pound Volatility Fades as UK Avoids No-Deal Brexit, for Now

Trade in the Pound Australian Dollar exchange rate was notably more subdued last week, with the pairing not experiencing the dramatic swings seen in recent weeks as Brexit was delayed by another six months.

However despite relief that the UK would not crash out of the EU at the end of the week, Sterling still fell back as markets feared how six months of prolonged uncertainty could drag on the UK economy.

Meanwhile the ‘Aussie’ enjoyed modest gains last week as it was buoyed by a broad uptick in the market risk appetite that permeated through the second half of the session.

 

AUD Outlook: Accelerating Wage Growth to Boost Sterling?

Looking to the week ahead, we may see the Pound begin to be influenced by economic data once again, starting with the release of the UK’s latest labour report on Tuesday.

This may help to bolster Sterling if domestic wage growth is shown to have accelerated in February as forecast.

Meanwhile AUD investors will have their own employment figures to focus on this week, with the Australian Dollar potentially slipping if unemployment rose in line with expectations in March.

 

Key Events

16th April

02:30 AU RBA Minutes

09:30 UK Unemployment Rate (Feb)

09:30 UK Wage Growth (Feb)

17th April

09:30 UK Inflation Rate (Mar)

18th April

02:30 AU Unemployment Rate (Mar)

02:30 AU Employment Change (Mar)

09:30 UK Retail Sales (Mar)

 

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To keep up to date with the Australian Dollar, visit the AUD blog in our Currency News section.

Alastair Archbold
Currency Trader
T: 01442 892 062

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