{"id":95371,"date":"2020-01-30T10:12:23","date_gmt":"2020-01-30T15:12:23","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95371"},"modified":"2020-01-30T10:02:45","modified_gmt":"2020-01-30T15:02:45","slug":"102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/","title":{"rendered":"GBP\/AUD: Pound Hits New 3 1\/2-Year High vs. Aussie"},"content":{"rendered":"

The British pound is higher against the Australian dollar<\/a> on Thursday afternoon in a huge intraday move that has taken the exchange rate back to 3 1\/2 -year highs and the highest since the EU referendum result. The trigger for the move was the decision by the Bank of England to hold interest rates<\/a> steady when there was widespread speculation that UK rates could be lowered.<\/p>\n

GBP\/AUD<\/a> was higher by 228 pips (+1.18%) to 1.9503 with a daily price range of 1.927 to 1.951 as of 2pm GMT. The exchange rate had been flat in the early hours before the BOE decision and skyrocketed afterwards, only finding resistance at multi-year highs near 1.95<\/p>\n

GBP\/AUD – The pound<\/strong><\/h2>\n

Despite prognostications of lower rates by multiple policymakers in the lead up to the meeting, the Bank of England eventually decided to keep interest rates unchanged at 0.75%. Some of the justifications for the talk of lowering rates in the run up to the meeting were used as reasons to lower economic growth<\/a> targets as well as the central bank\u2019s so-called forward guidance.<\/p>\n

As a reminder, \u2018forward guidance\u2019 is the name central bankers give their forecasts for what interest rates will be in the next one to two years. It is generally understood that most central banks have a terrible track record for predicting how they will set interest rates in the future. This is particularly the case at the Bank of England were Governor Mark Carney was compared to an \u201cunreliable boyfriend\u201d.<\/p>\n

The forward guidance is normally a part of the official statement or minutes that accompany the meeting. \u00a0In its December statement, the Bank of England said it expected to make \u201climited and gradual\u201d rate rises. These words were removed and replaced in January with \u201csome modest tightening\u201d. Governor Carney explained the change by saying \u201climited and gradual implied multiple rate rises, and that\u2019s not expected\u201d.<\/p>\n

So while the central bank has not opted to cut interest rates this time, it plans to hike rates at a slower pace in the future.<\/p>\n

\n
Currencylive.com<\/em> is a news site only and not a currency trading platform.<\/em><\/h6>\n
Currencylive.com is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

The British pound is higher against the Australian dollar on Thursday afternoon in a huge intraday move that has taken the exchange rate back to 3 1\/2 -year highs and the highest since the EU referendum result. The trigger for the move was the decision by the Bank of England to hold interest rates steady […]<\/p>\n","protected":false},"author":163946598,"featured_media":3657,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,1530,1439,1786,1568,1629,2205,1394,1614],"class_list":{"0":"post-95371","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-bank-of-england","11":"tag-boe","13":"tag-economic-growth","14":"tag-economics","15":"tag-eu-referendum","16":"tag-gbp","17":"tag-interest-rate"},"acf":[],"yoast_head":"\nGBP\/AUD: Pound Hits New 3 1\/2-Year High vs. Aussie - 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\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/AUD: Pound Hits New 3 1\\\/2-Year High vs. Aussie\",\"datePublished\":\"2020-01-30T15:12:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/\"},\"wordCount\":591,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100072-aud-gbp-china-economic-data.jpg\",\"keywords\":[\"aud\",\"bank of england\",\"boe\",\"central bank\",\"economic growth\",\"economics\",\"EU referendum\",\"gbp\",\"interest rate\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/\",\"name\":\"GBP\\\/AUD: Pound Hits New 3 1\\\/2-Year High vs. Aussie - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100072-aud-gbp-china-economic-data.jpg\",\"datePublished\":\"2020-01-30T15:12:23+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100072-aud-gbp-china-economic-data.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100072-aud-gbp-china-economic-data.jpg\",\"width\":800,\"height\":405},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/AUD: Pound Hits New 3 1\\\/2-Year High vs. Aussie\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\",\"name\":\"Ileana Ionescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g\",\"caption\":\"Ileana Ionescu\"},\"description\":\"With a background in business journalism, Ileana works as a Junior Market Analyst for Currency Live and creates content that brings transparency to our audience. Originally from Bucharest, Ileana most commonly transfers EUR to RON and speaks Romanian, English, Italian, Spanish and German.\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/ileana-ionescu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/AUD: Pound Hits New 3 1\/2-Year High vs. Aussie - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/","twitter_misc":{"Written by":"Ileana Ionescu","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/"},"author":{"name":"Ileana Ionescu","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b"},"headline":"GBP\/AUD: Pound Hits New 3 1\/2-Year High vs. Aussie","datePublished":"2020-01-30T15:12:23+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/"},"wordCount":591,"image":{"@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100072-aud-gbp-china-economic-data.jpg","keywords":["aud","bank of england","boe","central bank","economic growth","economics","EU referendum","gbp","interest rate"],"articleSection":["AUD","GBP"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/","url":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/","name":"GBP\/AUD: Pound Hits New 3 1\/2-Year High vs. Aussie - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100072-aud-gbp-china-economic-data.jpg","datePublished":"2020-01-30T15:12:23+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100072-aud-gbp-china-economic-data.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100072-aud-gbp-china-economic-data.jpg","width":800,"height":405},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/102232-gbp-aud-pound-hits-new-3-1-2-year-high-vs-aussie\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/AUD: Pound Hits New 3 1\/2-Year High vs. Aussie"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b","name":"Ileana Ionescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","caption":"Ileana Ionescu"},"description":"With a background in business journalism, Ileana works as a Junior Market Analyst for Currency Live and creates content that brings transparency to our audience. Originally from Bucharest, Ileana most commonly transfers EUR to RON and speaks Romanian, English, Italian, Spanish and German.","url":"https:\/\/currencylive.com\/news\/author\/ileana-ionescu\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100072-aud-gbp-china-economic-data.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946598"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=95371"}],"version-history":[{"count":1,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95371\/revisions"}],"predecessor-version":[{"id":95372,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95371\/revisions\/95372"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/3657"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=95371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=95371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=95371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}