GBP/AUD remains range-bound as the Brexit process begins, where to next for GBP/AUD? (Joseph Wright)

Could this Key Week for Brexit Negotiations Impact AUDGBP?

Despite this week being historic for the UK the Pound has remained relatively flat vs the Australian Dollar throughout the week, and at the time of writing the currency has moved less than 1% against the Aussie since the week’s beginning.

I’m of the opinion that the Brexit has been priced into the Pounds value, and I’m not expecting to see another major sell-off in the pound. I made this prediction prior to the UK’s triggering of Article 50 and I think moving forward the only factor that could cause another historic drop like the one we saw last June would be if it becomes public that trade negotiations are going terribly for the UK during this key 2-year period.

Later this morning there will be GDP figures released for the UK, with expectations of 2% annually and 0.7% on a quarterly basis. I think that economic data out of the UK is likely to be watched closely by financial markets due to the UK’s ongoing plans to leave the EU. If you would like to be kept updated regarding key data releases and sharp price movements between the Pound and the Aussie Dollar do feel free to register your details with me and I’ll be happy to keep you updated.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.