{"id":101126,"date":"2020-06-12T12:36:52","date_gmt":"2020-06-12T16:36:52","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101126"},"modified":"2020-06-12T16:01:22","modified_gmt":"2020-06-12T20:01:22","slug":"103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-aussie-dollar","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-aussie-dollar\/","title":{"rendered":"GBP\/AUD: Pound Snaps 5-week Losing Streak vs. Aussie dollar"},"content":{"rendered":"<p>The British pound is lower against the Australian dollar on Friday.<\/p>\n<ul>\n<li><strong>China stimulus- to increase fiscal funds for local governments<\/strong><\/li>\n<li><strong>UK reports record monthly GDP contraction<\/strong><\/li>\n<li><strong>Equities rebound from post-Fed rout<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-aud-exchange-rate-today\/\">Pound-Aussie<\/a> exchange rate (GBP\/AUD) higher by +0.54% this week<\/strong><\/li>\n<\/ul>\n<p>GBP\/AUD was down by 93 pips (-0.51%) to 1.8287 as of 4pm GMT.<\/p>\n<p>The currency pair trade around 1.84 in early trading but turned lower as the day went on and eventually hit lows close to 1.825. Yesterday it was higher by +0.93%.<\/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: Pounded heads for first weekly gain in six<\/h2>\n<p>By late afternoon Friday, the British pound was on course for its first weekly gain over the Australian dollar in six-weeks, having had five-weekly losses on the trot. In what was a turbulent week for global markets, where the Dow fell over 1000 points and oil prices dived over 8% yesterday \u2013 the pound has come out on the other side with a win.<\/p>\n<p>Some better news on the Brexit-front, a deteriorating Australia-China relationship and just a very oversold market all helped the pound this week.<\/p>\n<p>Today the news for the UK and Sterling was not so good \u2013 in fact some of the worst ever. UK GDP declined by -20.4% according to the Office for National Statistics (ONS)- a bigger drop than the already unprecedented -18.7% projected. That is by far the worst drop ever recorded.<\/p>\n<h2>AUD: China stimulus helps retracement of Thursday loss<\/h2>\n<p>While relations are clearly souring between Australia China \u2013 as demonstrated by the latter warning its students not to study at the former this week \u2013 the two economies are still very much intertwined. So an announcement that the Chinese government will release extra funds for local governments to aid employment and consumption was a positive force on the Aussie.<\/p>\n<p>The Aussie dollar dived -2% versus the US dollar on Thursday so some of today\u2019s gains were purely retracing some of that large drop by currency market standards.<\/p>\n<p>US stock markets opened higher on Thursday, though gains looked fragile even after University of Michigan consumer sentiment rose to 78.9- above the 75.0 expected.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is lower against the Australian dollar on Friday. China stimulus- to increase fiscal funds for local governments UK reports record monthly GDP contraction Equities rebound from post-Fed rout Pound-Aussie exchange rate (GBP\/AUD) higher by +0.54% this week GBP\/AUD was down by 93 pips (-0.51%) to 1.8287 as of 4pm GMT. The currency [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":5444,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1541,2863,1860,1391,1813],"class_list":{"0":"post-101126","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-gbp","9":"tag-australian-dollar","10":"tag-china-local-government","11":"tag-gbp-aud","12":"tag-pound","13":"tag-uk-gdp"},"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: Pound Snaps 5-week Losing Streak vs. 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\/103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-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\\\/103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-aussie-dollar\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-aussie-dollar\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/AUD: Pound Snaps 5-week Losing Streak vs. Aussie dollar\",\"datePublished\":\"2020-06-12T16:36:52+00:00\",\"dateModified\":\"2020-06-12T20:01:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-aussie-dollar\\\/\"},\"wordCount\":381,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-aussie-dollar\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100946-gbp-eur-pound-strengthens.jpg\",\"keywords\":[\"australian dollar\",\"china local government\",\"gbp\\\/aud\",\"pound\",\"uk gdp\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-aussie-dollar\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103408-gbp-aud-pound-snaps-5-week-losing-streak-vs-aussie-dollar\\\/\",\"name\":\"GBP\\\/AUD: Pound Snaps 5-week Losing Streak vs. Aussie dollar - 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