Toscafund Asset Management

The Pound-to-Australian Dollar rate rose on Tuesday, helping preserve what remains a year-to-date gain for a British currency that is increasingly a market favourite for 2021, although nascent price action may be only just the beginning of a likely-losing battle by the Aussie to hold the GBP/AUD rate down. 

Pound Sterling remains among the worst performers for 2020 and the economy one of the most badly affected by the coronavirus, although if an acrimonious Brexit is avoided this month, both the economy and currency could quickly become a contrarian's contenders for outperformance in 2021.