The Pound Australian Dollar (GBP/AUD) exchange rate continues to tank lower. The pair trades over -1% lower this week as it targets 1.80.
Hard, no trade deal Brexit fears are sending the Pound into a tailspin. As the 8th round of Brexit talks begin in London tensions between the two sides are elevated. Expectations of a breakthrough are low.
Australian payrolls declined -0.4% in August owing to the resurgence of covid in Victoria. As the state struggles with a second lockdown the labour market is taking a hit. Business confidence is also declining, dropping to -6 on the NAB index.
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