The Pound Australian Dollar (GBP/AUD) exchange rate trades lower for a second consecutive day. The pair has shed over -0.8% over the last two sessions.
A broad risk on mood in the market is boosting the risk sensitive Aussie Dollar. Reports that the US FDA authorised blood plasma therapy for coronavirus patients and Trump considering by-passing current regulation to have a vaccine before the Presidential elections are boosting demand for riskier assets and currencies.
The Pound continues to be dragged down by Brexit woes as the investors doubt whether a Brexit trade deal can be reached in time. The government’s withdrawal from the furlough scheme is raising concerns over the outlook for the UK economy.