{"id":100582,"date":"2020-05-28T04:44:24","date_gmt":"2020-05-28T08:44:24","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100582"},"modified":"2020-05-28T05:20:42","modified_gmt":"2020-05-28T09:20:42","slug":"103297-gbp-aud-aussie-dollar-slips-on-us-china-standoff-weak-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103297-gbp-aud-aussie-dollar-slips-on-us-china-standoff-weak-data\/","title":{"rendered":"GBP\/AUD: Aussie Dollar Slips On US \u2013 China Standoff, Weak Data"},"content":{"rendered":"<ul>\n<li><strong>British Pound (GBP) advances amid signs that worst in hiring slump has passed<\/strong><\/li>\n<li><strong>US \u2013 China tensions rise as US no longer recognises Hong Kong\u2019s political autonomy<\/strong><\/li>\n<li><strong>Australian Capital Private Expenditure -1.6% in Q1<\/strong><\/li>\n<li><strong>At 09:15 UTC, USD\/AUD is trading +0.2% at 1.8562 &gt;&gt; <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\">Real time exchange rate<\/a><\/strong><\/li>\n<\/ul>\n<p>Following three days of gains, the Australian Dollar is edging lower versus the Pound. The Aussie Dollar settled on Wednesday +0.2% at 1.8505, after hitting a fresh 7-month high of 1.8448.<\/p>\n<p>At 09:15 UTC, GBP\/AUD is trading +0.2% at 1.8562. This is approximately mid-way between the daily traded range of 1.8493 \u2013 1.8598 following encouraging UK data and amid simmering tensions between US \u2013 China over Hong Kong.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-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 USD exchange rate<\/span><\/a><\/div>\n<p>Data from an industry body showed that the worse could be over in the UK hiring slump. Data from an industry body revealed that employers were less pessimistic about hiring and investment in May. The Recruitment &amp; Employment Confederation\u2019s Business confidence measure remained negative this month at -10 but was up significantly from -21 last month. \u00a0Coronavirus has had a huge impact on hiring across industries. However, this data suggests that the worst has passed.<\/p>\n<p>The news helped boost the pound and added to broader optimism surrounding the reopening of the UK economy.<\/p>\n<p>Any gains in sterling could, however, be capped under the burden of Brexit. Yesterday, Brexit Secretary David Frost reiterated that the government does not intend to request an extension to the transition period. Trade talks were already on a tight timeline prior to the coronavirus outbreak. Fears have been growing that without an extension beyond the 31st December cut off date, the UK risks a cliff edge, no trade deal Brexit.<\/p>\n<p>The risk sensitive Australian Dollar is trending southwards as tensions between US and China remain elevated. US Secretary of State Mike Pompeo said that he US does not recognise Hong Kong\u2019s autonomy from China. His comments come as China is set to impose a national security law on Hong Kong.<\/p>\n<p>Mike Pompeo\u2019s comments have been the most serious reaction from the White House, so far, over China\u2019s crackdown on freedom in the financial hub. It is the biggest hint so far that Hong Kong could lose its special trade status with US.<\/p>\n<p>Domestic data was also unsupportive of the Aussie Dollar. Private New Capital Expenditure plans data revealed a -1.6% in the March quarter. Whilst this only included the beginning of the coronavirus crisis, it reflected the uncertainty.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British Pound (GBP) advances amid signs that worst in hiring slump has passed US \u2013 China tensions rise as US no longer recognises Hong Kong\u2019s political autonomy Australian Capital Private Expenditure -1.6% in Q1 At 09:15 UTC, USD\/AUD is trading +0.2% at 1.8562 &gt;&gt; Real time exchange rate Following three days of gains, the Australian [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":47026,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1540,1603,1541,1386,1399,1394,2803,1391],"class_list":{"0":"post-100582","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-aud","10":"tag-aussie","11":"tag-australian-dollar","12":"tag-brexit","13":"tag-china","14":"tag-gbp","15":"tag-hiring","16":"tag-pound"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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