The British pound is higher against the Australian dollar on Thursday.

  • Boris Johnson to travel to Brussels in June
  • China parliament approves Hong Kong security law
  • RBA’s Lowe says economic package is working
  • BOE’s Saunders prefers ‘easing too much and tightening later’

GBP/AUD was up by 12 pips (+0.07%) to 1.8514 as of 4pm GMT.

Pound to Australian dollar stumbled around with minimal progress in either direction on Thursday. Yesterday the exchange rate fell -0.19%, bringing a weekly tally of -0.63%.

GBP: Boris Johnson to travel to EU in June

Sterling has been fluttering near multi-month lows against several currencies, unable to capitalise on an improved market mood. Across broader markets risk sentiment hangs on 3000 level in the S&P 500.

Expectations are pretty low for next week’s trade negotiations between the EU and UK with both sides sticking to their guns. It was therefore some good news that Prime Minister Boris Johnson will head to Brussels in June to meet with the EU ahead of the key end-of-June deadline in which the UK could extend the transition period.

Away from Brexit it was the Bank of England’s Saunders sharing his views on the UK economy and the necessary monetary policy stance from Threadneedle Street.

AUD: Hong Kong law gets passed in China

The Aussie dollar continues to hold up well despite the rising US-China tensions, exacerbated by China’s new Hong Kong Security law, which passed though another layer of bureaucracy towards law on Thursday.

US Secretary of State Pompeo said Hong Kong is “no longer independent from China.” Australia relies on the free flow of global goods to China to keep the main customer for its raw material exports in good shape.

The bill is bad news for Hong Kong since it probably leads to more protests and if investors lose confidence in the region’s independence, less capital will flow from overseas. How quickly that capital dries up could depend on the announcement President Trump will make this week on the US ‘response’ to the new Hong Kong law. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.