GBPAUD reach new highs

AUDGBP: Australian Dollar Weakens in Worst COVID-19 Day Yet

The Australian dollar has continued its negative trend this week with Sterling gaining by almost 4 cents over the last few trading sessions. A majority of that has come from sterling strength and China weakness. With particular importance on the fall in commodaty prices that the AUD economy is so dependant on.  Moving forward I would not be surprised to see this trend continue but anyone waiting for GBPAUD to break 2 they will probabaly be waiting some considerable time.

This afternoon we have US jobless figures which will be the key event today. US economic news has a big impact on the risk appetite of traders and therefore the demand and value of the AUD. I generally expect the US data to be strong and for demand and therefore the cost of buying the AUD to go uip this afternoon. So anyone looking at buying the AUD within the next 10 days may wish to move before this release as I do think we are currently trading at the top end of the range we will see until the New Year.  For more information on how to time your transfer please feel free to contact myself, Steve Eakins, via email at hse@currencies.co.uk