Pound vs Australian dollar: Will the GBP/AUD rate remain above 1.80?

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The pound vs Australian dollar rate has found itself back over 1.80 as expectation for a Brexit deal have increased. In what is being billed as a crucial day ahead for Brexit and therefore the pound, sterling could very easily find itself the centre of attention as the market digests the news.

Pound vs Australian dollar forecast: Will a Brexit deal be agreed?

Clearly the mood is buoyant and expectation high but we have been here on a number of occasions in the past and very recently, only to find the good news and market expectations of a Brexit deal being reached do not go according to plan.

The pound will be a key driver on the GBP/AUD pair today with other economic news released relating to the latest Inflation data. For people wishing to buy or sell Australian dollars the path ahead is rather mixed, but it would appear sterling may well rise further if a deal is reached on the UK’s exit terms. This does seem the most likely outcome at this time, hence the rise in the pound’s value.

However, the possibility of a no-deal scenario remains, even if the exit terms are agreed we do still need to see the EU and Parliament agree to the deal and give the go ahead. Any sterling strength may therefore be limited as the move is already largely priced in now, and there are still many more steps ahead.

Expectations for the pound vs Australian dollar rate

The pound vs Australian dollar rate has moved above 1.80 at the time of writing but could very easily find itself back under this important level once the market has fully digested any news. Markets will generally move on news information and whilst there is definitely still some upside, the biggest move will be lower since that is not the current expectation, i.e. for today to not lead to a deal and Brexit progress to stall yet again.

The pound vs Australian dollar rate does appear poised to rise higher presenting some better opportunities for the buyers, but do be wary, any sudden changes in the Brexit outlook could have a dramatic effect on the market and the pound.

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