The Pound has managed so far to hold onto its recent gains against the Aussie Dollar, despite stalls to Brexit negotiations hitting the headlines over the past week.
There has been hopes of a agreed Brexit bill announcement this week, which would likely push the Pound higher but the there sticking point of Northern Ireland’s terms and its border is proving to be a stumbling block at the moment.
The UK’s Prime Minister, Theresa May has come under pressure for her dealings with her EU counterparts this week after many had expected to see the Brexit bill agreed, only to be disappointed to discover the Northern Irish border issue throw a spanner in the works.
Once the Brexit bill has been agreed the path is cleared for Brexit trade negotiations to begin between the UK and the remaining EU members, which I expect to be a positive for the UK and therefore the Pound. I also think that should a transitional deal be agreed we can expect to see the Pound climb also.
On a negative note for the Pound, should there be further stalls regarding any deals I think the Pound could see a sharp sell-off across the board as the UK is running out of time to make progress at the negotiating table.
If you would like to be updated in the wake of a short term price change between the Pound and the Aussie Dollar, do feel free to register your interest with me.
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