{"id":100216,"date":"2020-05-18T12:29:53","date_gmt":"2020-05-18T16:29:53","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100216"},"modified":"2020-05-18T12:34:32","modified_gmt":"2020-05-18T16:34:32","slug":"103232-gbp-aud-rally-in-oil-prices-coronavirus-vaccine-news-boost-aussie-dollar","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103232-gbp-aud-rally-in-oil-prices-coronavirus-vaccine-news-boost-aussie-dollar\/","title":{"rendered":"GBP\/AUD: Rally in Oil Prices &#038; Coronavirus Vaccine News Boost Aussie Dollar"},"content":{"rendered":"<p>The <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">British pound<\/a> is lower against the <a href=\"https:\/\/currencylive.com\/exchange-rate\/aud-australian-dollar-live-exchange-rate\/\">Australian dollar<\/a> on Monday.<\/p>\n<p>A jump in commodity prices including crude oil and gold, which hit a seven year high bolstered the commodity-sensitive Aussie dollar.<\/p>\n<p>Losses in Sterling were limited by a positive tone in markets as investors reacted to the prospect of extra central bank stimulus and more seemingly good coronavirus vaccine trial results.<\/p>\n<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-aud-exchange-rate-today\/\">Pound to Australian dollar<\/a> was down by 47 pips (-0.26%) to 1.8767 as of 3pm GMT.<\/p>\n<p>After an initial lurch lower, the GBP\/AUD moved above and below 1.88 with a tendency to stay below it more pervasive by the afternoon. Last week the exchange rate fell -0.69%.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-aud-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time GBP to AUD exchange rate<\/span><\/a><\/div>\n<h2>GBP: Losses limited by vaccine progress<\/h2>\n<p>In a sign of persistent weakness, the Sterling-Aussie exchange rate was not able to make any headway despite optimism over a new coronavirus vaccine. A mood to take risk in markets can often be a trigger for strength in the pound.<\/p>\n<p>American biotechnology company Moderna announced some positive data on its early stage coronavirus vaccine on Monday. The company\u2019s share jumped over 10% on the news that all of the 45 participants in its trial produced antibodies after taking two rounds of shots of the vaccine.<\/p>\n<p>Progress appears to being made on various vaccines, which is certainly good news, although the timing of delivery and whether it could prevent a second wave of virus cases remains unknown.<\/p>\n<h2>AUD: Aussie supported by rising commodities<\/h2>\n<p>Reports that Chinese oil demand is back up to pre-pandemic levels after dropping 20% in March added to recent upside moves in the price of oil. US crude oil topped $30 per barrel after having dived into negative territory just under a month ago.<\/p>\n<p>With Australia a big commodity exporter, the Aussie currency tends to react well to higher commodity prices.<\/p>\n<p>Forecasts for weak economic growth and oversupply during lockdown have sent industrial commodity prices careering lower this year. A surprise draw in US oil stockpiles last week has eased concerns about a lack of storage capacity in the United States for the unneeded oil.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is lower against the Australian dollar on Monday. A jump in commodity prices including crude oil and gold, which hit a seven year high bolstered the commodity-sensitive Aussie dollar. Losses in Sterling were limited by a positive tone in markets as investors reacted to the prospect of extra central bank stimulus and [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":100217,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,2139,1394,1860,2767,2421,2695],"class_list":{"0":"post-100216","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-gbp","9":"tag-aud","10":"tag-coronavirus","11":"tag-gbp","12":"tag-gbp-aud","13":"tag-moderna","14":"tag-pandemic","15":"tag-vaccine"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/AUD: Rally in Oil Prices &amp; Coronavirus Vaccine News Boost Aussie Dollar - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103232-gbp-aud-rally-in-oil-prices-coronavirus-vaccine-news-boost-aussie-dollar\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jasper Lawler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103232-gbp-aud-rally-in-oil-prices-coronavirus-vaccine-news-boost-aussie-dollar\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103232-gbp-aud-rally-in-oil-prices-coronavirus-vaccine-news-boost-aussie-dollar\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/AUD: Rally in Oil Prices &#038; 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