{"id":100929,"date":"2020-06-08T04:47:16","date_gmt":"2020-06-08T08:47:16","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100929"},"modified":"2020-06-08T08:44:45","modified_gmt":"2020-06-08T12:44:45","slug":"103365-gbp-aud-australia-dollar-continues-relentless-rally","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103365-gbp-aud-australia-dollar-continues-relentless-rally\/","title":{"rendered":"GBP\/AUD: Australia Dollar Continues Relentless Rally"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/aud-australian-dollar-live-exchange-rate\/\">Australian Dollar<\/a> (AUD) strengthens on global economic reopening optimism<\/strong><\/li>\n<li><strong>US NFP and New Zealand eliminating virus lifts sentiment and AUD<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) mixed amid reopening optimism and Brexit stalemate<\/strong><\/li>\n<li><strong>At 09:15 UTC, <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-aud-exchange-rate-today\/\">Pound to Australian dollar<\/a> (GBP\/AUD) is trading -0.2% at 1.8148<\/strong><\/li>\n<\/ul>\n<p>The Australian Dollar is continuing its ascent versus the Pound at the start of the new week, extending gains from the previous week. The Aussie Dollar settled on Friday at 1.8174 amid gains of 1.8% through the week, its fifth straight week of gains.<\/p>\n<p>Australian Dollar strength isn\u2019t showing signs of slipping. At 09:15 UTC, GBP\/AUD is trading -0.2% at 1.8148.<\/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<p>The Australian Dollar, a proxy for risk appetite, has seen a relentless rally over the past two months, which continues amid expectations of a global economic recovery on easing lockdown restrictions.<\/p>\n<p>US jobs data on Friday showed 2.5 million jobs were created in May versus -8 million job losses forecast. Meanwhile New Zealand has successfully, completely eliminated the virus allowing life to continue as normal. The reports have added to optimism boosting the perceived riskier Australian Dollar<\/p>\n<p>The Reserve Bank of Australia refrained from talking down the Aussie Dollar last week which also added support to the currency. The RBA has shown a clear aversion to negative interest rates whilst other central banks, including the Bank of England consider using them.<\/p>\n<p>Meanwhile, trade tensions between US and China, the largest importer of Australian commodities has done little to dampen demand for the Australian Dollar.<\/p>\n<p>This week, Australia\u2019s consumer and business confidence data will be in focus.<\/p>\n<p>The Pound was trading mixed versus its major peers on Monday, as investors cheered the reopening of the British economy, however Brexit deadlock also weighed on demand.<\/p>\n<p>Market research firm, Springboard, revealed that signs of pent up demand among UK consumers are appearing. Footfall at retail parks is starting to pick up as some stores reopen and ahead of the final reopening of shops next week. Given that the UK economy is so dependant on consumer spending, this is an encouraging signal, underpinning the Pound.<\/p>\n<p>With no high impacting UK data to digest, investors continue to mull over last week\u2019s Brexit trade talks which highlighted the distance that still remains between the two sides with regards to some key issues. The stalemate increases the chances of the UK leaving on World Trade Organisation terms, rather than with a trade deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australian Dollar (AUD) strengthens on global economic reopening optimism US NFP and New Zealand eliminating virus lifts sentiment and AUD Pound (GBP) mixed amid reopening optimism and Brexit stalemate At 09:15 UTC, Pound to Australian dollar (GBP\/AUD) is trading -0.2% at 1.8148 The Australian Dollar is continuing its ascent versus the Pound at the start [&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":[1547,1379],"tags":[1540,1541,1386,1394,1493,1391,2836],"class_list":{"0":"post-100929","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-australian-dollar","11":"tag-brexit","12":"tag-gbp","13":"tag-nfp","14":"tag-pound","15":"tag-reopening"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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