Pound Sterling Exchange Rate Daily Update: GBP/AUD Jumps on Stock Market Panic

Pound Sterling (GBP) Exchange Rates Lifted by Brexit Deal Hope

The Pound (GBP) continued to appreciate yesterday, buoyed by hopes that the UK and EU could soon finalise a Brexit deal.

However slightly dampening Sterling sentiment was the release of the UK’s latest GDP figures, which revealed the UK economy stalled in August, undermining a 0.7% expansion over the summer.

Meanwhile today will see the focus briefly turn to the Bank of England, with a speech by Gertjan Vlieghe, potentially lifting GBP exchange rates if the recent Brexit optimism leads to a more hawkish outlook from the BoE policymaker.

GBP/EUR Exchange Rate Strikes Fresh Three-Month Highs on Italy Budget Fears

Proving we’re not out of the woods yet when it comes to Italy’s new budget, the Pound Euro (GBP/EUR) exchange rate edged up to its highest levels since mid-June on Wednesday morning.

While Italy’s finance minister, Giovanni Tria attempted to ease market concerns, his comments appeared to fall on deaf ears, with analysts fearing the impact any increased spending will have on Italy’s debt pile.

This afternoon will bring the release of the minutes from the European Central Bank’s latest policy meeting, although with no surprises expected its impact on the Euro may prove negligible.

GBP/USD Exchange Rate Jumps as Safe-Haven Demand Slides

The Pound US Dollar (GBP/USD) exchange rate climbed to a new three-week high yesterday, breaking though the $1.32 barrier as rising Brexit optimism saw safe-haven demand slide.

Further dragging on the ‘Greenback’ was the continued slide in US 10-year bond yields as they continued to retreat from the seven-year high struck earlier in the week.

Looking ahead, the focus for markets today will be on the latest US CPI figures, with the US Dollar poised to slide if inflation slides for a second consecutive month.

GBP/CAD Exchange Rate Accelerates as Oil Prices Tumble

The Pound Canadian Dollar (GBP/CAD) exchange rate climbed around half a cent on Wednesday as a price slide in Canada’s biggest export led to losses in the ‘Loonie’ with crude prices crumbling as much as 1% through the session after the IMF lowered its global growth forecasts and suggested demand for oil may slump.

GBP/AUD Exchange Rate Skyrockets as Slump in Stocks Prompts Market Jitters

The Pound Australian Dollar (GBP/AUD) exchange rate jumped by around two cents in yesterday’s session, with the ‘Aussie’ facing considerable pressure as a slump in global stock markets spooked investors leading them to shun AUD.

GBP/NZD Exchange Rate Rallies as Markets Panic

The Pound New Zealand Dollar (GBP/NZD) exchange rate also rallied on Wednesday, with the ‘Kiwi’ suffering a similar fate to the ‘Aussie’ following the rout in stock markets.

Luke Trevail

Luke studied Journalism at university but quickly moved into the financial sector, initially working in retail banking before joining TorFX in 2007. As a Senior Account Manager Luke assists in overseeing the management of the company’s exposure to currency volatility. He uses his years of foreign exchange experience to produce regular news updates exploring the latest currency movements.

Contact Luke Trevail