The Pound Australian Dollar (GBP/AUD) exchange rates is trending southwards for a 6th straight session. The pair trades at -0.5% 1.7534 and is on track to lose around 3.3% across the week.
Brexit talks are on the brink of collapse as the UK refuses to scrap its plan to under the Brexit divorce treaty. The EU has threatened to pull out of trade talks and legal action. Adding to the Pound’s woes, the UK economic recovery appears to be running out of steam.
The Australian Dollar is pushing higher on improved risk sentiment as US futures are pushing higher. Gains could be capped by rising US – China tensions.