Brexit delayed once again and the impact on the Pound vs the Australian Dollar

Boris loses once again

After what has been a very interesting month so far with Brexit this weekend saw parliament sit for the first time on a Saturday since the Falklands War.

GBP/AUD exchange rates have recently been trading very close to 1.90 but the Pound has so far failed to hold on to its gains.

Over the weekend Boris Johnson failed to get the support needed to get the most recent Brexit Withdrawal Bill approved.

Another Brexit vote expected today?

Later today Boris Johnson is looking to have another vote in an attempt to get things moving. However, the Commons Speak John Bercow could potentially block the move as the previous vote only happened on Saturday.

The Prime Minister has been forced to write a letter to the European Union to ask for an extension. However, he left the first one unsigned and the next one which was signed claimed that a delayed would be a mistake.

With just 10 days to go before the UK is due to leave the European Union we could see a huge amount of volatility for GBP/AUD exchange rates during the next fortnight. Therefore, make sure you’re well prepared for any eventuality.

Australian Dollar under pressure vs Sterling

The Australian dollar has been weaker in recent months following signs that the Australian economy is not quite performing at its best, with fears mounting over whether or not they will have to cut interest rates

Headlines in the press refer to this weekend’s meetings of the IMF, where various countries reported economies suffering at the hands of the Trade Wars.

With China’s economic growth slipping to a 26-year low recently, the outlook ahead is not too rosy for the future of the global economy, which is concerning with anyone currently holding Australian Dollars.

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