GBP to AUD hits 3 year high but could it go higher?

newspaper with market rates

In short

  1. The GBPAUD hits 1.8481 for the first time since the Brexit vote 3 years ago
  2. It is now 18% higher than it's low of 1.6000 in October 2016
  3. A high GBPAUD makes it better for anyone transferring GBP back to Australia or selling GBP in cash

GBP to AUD exchange rate

TimeOpenLowHigh
Today1.8851
Yesterday1.89831.8744
In the last week1.83501.9064
In the last year1.84811.9064

One word - BREXIT

Brexit has been the biggest influence on the GBPAUD for the past 3 and an half years.

Ever since the initial Brexit vote in mid 2016. At the time, the pound plummeted. In a stunning 5 month period, the GBP/AUD fell 20% from 2.0 to 1.6 as the fallout from Brexit filtered through.

So what happened since?

We for the last 3 years, the GBP to AUD has been slowly but surely moving higher each year to recover most of the fall.

More recently, the news that a Brexit deal will be done and a 'hard Brexit" will be avoided, has helped the British Pound (GBP) get stronger, propelling the rate even higher.

Up Next

Next week it's all about interest rates. Central banks in China and the EU meet and decide on the official interest rates for 2 of the largest economies in the world.

In Australia, there is very little market news out.

 

CountryDayEvent
ChinaMondayPBoC Interest Rate Decision
AustraliaWednesdayPMI Manufacturing data
EurozoneThursdayInterest Rate Decision

Leave a Reply