The Pound Australian Dollar (GBP/AUD) exchange rate is trading higher, snapping a 4-day losing streak. The pair trades +0.3% at 1.79, rebounding from a 7-week low of 1.7813 struck in the previous session.

The Pound is advancing as Brexit trade talks are set to continue today, despite the EU threatening legal action against the UK for its internal markets bill which undermines the Brexit divorce bill.

News that Melbourne’s covid restrictions will be extended has hit the Aussie Dollar. The new road map sees Melbourne completely out of lock down on 23rd November. The economic hit from such an extended lockdown could be severe.