| Live GBP/AUD Exchange Rate: | 1.8834 |
| Daily Change: | 0.2204% |
| Opening Rate: | 1.8833 |
| Today's Low: | 1.8833 |
| Today's High: | 1.8833 |
| Low of the Past Year: | 1.4992 (26-12-2020) |
| High of the Past Year : | 1.9197 (22-08-2021) |
The Australian Dollar was said to be a beneficiary of efforts to shore up faltering Chinese property developer Evergrande, although a looming update from the Federal Reserve could upset the currency.
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Falling global stock markets and iron ore prices linked to the looming potential collapse of a mega Chinese property developer keep the Australian Dollar on the defensive.
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Unhappy global equity markets, disappointing data out of China and a hostile reserve bank make for a soggy outlook for the Australian Dollar.
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Foreign exchange strategists at Credit Suisse say they continue to expect the British Pound to advance against the Australian Dollar.
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Reserve Bank of Australia Governor Philip Lowe castigated markets for expecting an interest rate rise as early as 2022, an intervention that sent the Australian Dollar lower.
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GBP/AUD attempts to recover 1.89 ahead of weekend, may see levels close to 1.92 on any fresh AUD declines.
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Strategists at RBC Capital Markets have anointed GBP/AUD as the "trade of the week", saying they are going "long".
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