{"id":95398,"date":"2020-01-31T03:42:12","date_gmt":"2020-01-31T08:42:12","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95398"},"modified":"2020-01-31T03:19:54","modified_gmt":"2020-01-31T08:19:54","slug":"102238-gbp-aud-hits-highest-since-2016-on-brexit-day","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102238-gbp-aud-hits-highest-since-2016-on-brexit-day\/","title":{"rendered":"GBP\/AUD Hits Highest Since 2016 on Brexit Day"},"content":{"rendered":"

GBP\/AUD<\/a> has just updated the highest level in over three years on Friday. The pair is currently trading at 1.9548, up 0.39% as of 6:40 AM UTC. Yesterday, the price gained an impressive 1.21% after the Bank of England announced that it had left the interest rate unchanged at 0.75%.<\/p>\n

The Aussie<\/a> is experiencing the worst weekly loss in months, as the economy has been struggling with the worst fire season in years. On top of that, the outbreak of a new coronavirus in China is affecting trade and tourism, as the Asian country is Australia\u2019s largest trade partner and source of tourists.<\/p>\n

The World Health Organization (WHO) yesterday declared a global emergency, warning that the new strain of the virus could spread to nations with weaker health systems.<\/p>\n

ANZ economists anticipate China\u2019s economic growth<\/a> to slow to 5% for a while. Elsewhere, UBS economists estimated that Australia\u2019s would lose no less than A$1 billion as the services export is hit during the two-month halt on China package tours.<\/p>\n

Elsewhere, the sterling<\/a> remains bullish after the central bank\u2019s decision to maintain the rate, while investors priced a 50% chance of a rate cut.<\/p>\n

Also, today marks the day when the UK is finally leaving the European Union (EU). The historic day will be celebrated \u201crespectfully,\u201d UK Prime Minister Boris Johnson said. Brexit<\/a> is Britain\u2019s most important geopolitical decision since World War Two, causing a great loss for the European bloc.<\/p>\n

Johnson will hold a speech later today, during which he will say<\/a>:<\/p>\n

\u201cThe most important thing to say tonight is that this is not an end but a beginning. This is the moment when the dawn breaks and the curtain goes up on a new act. It is a moment of real national renewal and change.\u201d<\/em><\/p>\n

The pound is also supported by increasing confidence among British consumers. Market research firm GfK stated that its consumer confidence index rose to -9 in January, from -11 in December, in line with analysts\u2019 expectations. This is the highest level since last September.<\/p>\n

Joe Staton of GfK commented<\/a>:<\/p>\n

\u201cThe latest measures concerning our personal financial situation are encouragingly healthy and positive, as is the improvement in our view of the wider economic picture for the UK.\u201d<\/em><\/p>\n

\n
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GBP\/AUD has just updated the highest level in over three years on Friday. The pair is currently trading at 1.9548, up 0.39% as of 6:40 AM UTC. Yesterday, the price gained an impressive 1.21% after the Bank of England announced that it had left the interest rate unchanged at 0.75%. The Aussie is experiencing the […]<\/p>\n","protected":false},"author":163946598,"featured_media":47061,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1379],"tags":[1540,1396,1386,2139,1629,1986,1394,1915,2156],"class_list":{"0":"post-95398","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-boris-johnson","11":"tag-brexit","12":"tag-coronavirus","13":"tag-economics","14":"tag-european-bloc","15":"tag-gbp","16":"tag-gfk","17":"tag-world-health-organization"},"acf":[],"yoast_head":"\nGBP\/AUD Hits Highest Since 2016 on Brexit Day - 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\/102238-gbp-aud-hits-highest-since-2016-on-brexit-day\/\" \/>\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\\\/102238-gbp-aud-hits-highest-since-2016-on-brexit-day\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102238-gbp-aud-hits-highest-since-2016-on-brexit-day\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/AUD Hits Highest Since 2016 on Brexit Day\",\"datePublished\":\"2020-01-31T08:42:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102238-gbp-aud-hits-highest-since-2016-on-brexit-day\\\/\"},\"wordCount\":625,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102238-gbp-aud-hits-highest-since-2016-on-brexit-day\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/gbp-aud.jpg\",\"keywords\":[\"aud\",\"boris johnson\",\"Brexit\",\"coronavirus\",\"economics\",\"european bloc\",\"gbp\",\"GfK\",\"World Health Organization\"],\"articleSection\":[\"AUD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102238-gbp-aud-hits-highest-since-2016-on-brexit-day\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102238-gbp-aud-hits-highest-since-2016-on-brexit-day\\\/\",\"name\":\"GBP\\\/AUD Hits Highest Since 2016 on Brexit Day - 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