The Pound Australian Dollar (GBP/AUD) exchange rate continues to spiral lower. The pair has plunged through 1.80 and 1.79 to hit a two-month low of 1.7888.
The Pound is plunging on fears that Brexit trade talks will collapse. The UK government is due to release the internal markets bill, which the EU says undermines the Brexit divorce agreement. The EU have been clear that there will be no trade deal if the UK hampers with the exit agreement.
The Australian Dollar is supported data revealing a surge in consumer confidence. Consumer morale is just 1.6% shy of the pre-covid average.
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