Is there any chance of a Sterling resurgence in the near future? (Daniel Charles Johnson)

Will Sterling Weakness Continue to Help the AUD to GBP Rate Improve?

Pound Forecast

It has now been over eight weeks since the electorate voted in an advisory referendum to leave the European Union. The current reality of the situation however is I do not think those tasked with implementing a Brexit know how to do so efficiently and indeed when to. Theresa May has stated “Brexit means Brexit”, but despite this there doesn’t seem to be any rush to trigger article 50, in fact I wouldn’t be surprised if it was never pushed at all. If this is the case I do not expect any significant Sterling rally short to medium term.

The RBA cut interest rates less than a month ago and it has not had the desired outcome. AUD continues to hold strong, which could be attributed to the continual rise in property prices and property value. It seems even monetary policy is having little effect on weakening the Aussie. The current climate does not bode well for Sterling. If you are buying Aussie it may be wise to move at current levels.

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