Brexit news to influence GBP/AUD rates

The remained of this week is extremely important for sterling exchange rates, with the start of the EU Brexit summit earlier today.

Should we get to the end of the week without a deal being agreed then it would not be a great surprise to see sterling exchange rates weaken quite considerably, on the flip side should we hear news that a deal has provisionally agreed then we may see a good boost to the value of the pound.

Presently, if media reports are to be believed then it looks like both sides are still quite far apart from striking a provisional deal and that we may have a long wait until the Irish border issue is agreed.

With this in mind if you have Australian dollars to buy in the short term then it may be prudent to consider securing a rate on some or all of your requirement to avoid any adverse market movements and your purchase costing your more than you budgeted for.

We all know that things can change very quickly, so the key in this type of market is to remain extremely vigilant and keep abreast of the factors with the potential to influence your exchange.

In terms of economic data from Australia, the key realease of this week will be unemployment figures released overnight tonight. Expectations are for Australian unemployment to remain at 5.3% however any deviation to this may lead to Australian dollar volatility.

All in all we have a busy few days ahead, if you have any queries about the market or you would like to discuss a potential transaction feel free to get in touch with me directly by filling in the form below.

The post Brexit news to influence GBP/AUD rates appeared first on Pound Sterling Forecast.