{"id":105002,"date":"2020-09-21T10:18:50","date_gmt":"2020-09-21T09:18:50","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105002"},"modified":"2020-09-21T13:04:54","modified_gmt":"2020-09-21T12:04:54","slug":"104375-gbp-aud-pound-sells-off-as-uk-faces-tighter-covid-restrictions","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104375-gbp-aud-pound-sells-off-as-uk-faces-tighter-covid-restrictions\/","title":{"rendered":"GBP\/AUD: Pound Sells Off As UK Faces Tighter Covid Restrictions"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) is tanking across the board on rising covid fears<\/strong><\/li>\n<li><strong>London could be on the brink of a second lockdown<\/strong><\/li>\n<li><strong>Australian Dollar has remained well supported owing to robust export demand &amp; fiscal support<\/strong><\/li>\n<li><strong>RBA Deputy Governor Guy Debelle to speak tomorrow<\/strong><\/li>\n<\/ul>\n<p>The Pound Australian Dollar (GBP\/AUD) exchange rate is plunging lower on Monday, paring gains from the previous week. The pair settled on Friday up 0.9% across the week at 1.7714. At 06:15 UTC, GBP\/AUD trades -0.3% at 1.7646, towards the low of the day whilst heading towards the 2020 low of 1.7494.<\/p>\n<p>The Pound is plunging amid fears that London is on the verge of a second lockdown. Rising covid-19 across the north of England and now London is raising the possibility of more restrictive lockdown measures.<\/p>\n<p>Britain\u2019s top medical adviser, Chris Whitty is due to warn that the UK is at a critical point in the covid battle and faces a challenging winter in a briefing to the public today. The infection rate in the UK is heading in the wrong direction and is only a few weeks behind France and Spain where infections have surged and unfortunately deaths are on the rise too.<\/p>\n<p>Tighter lockdown restrictions will hamper the economic recovery. In a separate report, British manufacturers said that hopes of V-shape recovery were farfetched, with no evidence no evidence of such a recovery coming through. Many manufacturers are planning to slash business investment. BDO reported that investment intentions fell to -32% from -26%, almost as low as intentions seen in the financial crisis.<\/p>\n<p>There is no UK data due today meaning that sentiment will continue to drive sterling.<\/p>\n<p>The commodity currency the Australian Dollar has remained well supported thanks in part to ongoing demand for key Autralian exports such as iron ore, coal and gold and owing to substantial support from the Autralian government. The Australian budget is due to be released on 6<sup>th<\/sup> October and will provide guidance as to whether the government will look to increase its fiscal support.<\/p>\n<p>There is no high impacting data due to be released today. Investors will look ahead to a speech on Tuesday from RBA Deputy Governor Guy Debelle about monetary policy and the economy.<\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">GBP Index Today - last 180 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/0da3eb5ba0a43939cb8e3a7a4cc6f527.png\" alt=\"\" width=\"800\" height=\"348\" class=\"aligncenter size-full wp-image-105020\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/0da3eb5ba0a43939cb8e3a7a4cc6f527.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/0da3eb5ba0a43939cb8e3a7a4cc6f527-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/0da3eb5ba0a43939cb8e3a7a4cc6f527-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/09\/0da3eb5ba0a43939cb8e3a7a4cc6f527-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) is tanking across the board on rising covid fears London could be on the brink of a second lockdown Australian Dollar has remained well supported owing to robust export demand &amp; fiscal support RBA Deputy Governor Guy Debelle to speak tomorrow The Pound Australian Dollar (GBP\/AUD) exchange rate is plunging lower on Monday, [&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":[],"class_list":{"0":"post-105002","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-gbp"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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