Australian Dollar Pound (AUD GBP) Rate Softens after Damaging Day for Both Currencies

Australian Dollars (AUD)

The Australian Dollar has been an unstable option of late on mixed domestic data, while the Pound has been similarly unsettled by widespread concerns about business confidence and future sources of energy for the UK.

Australian Economic News: Australian Dollar Loses Out as Domestic Data brings Disappointment

The value of the ‘Aussie’ has taken a hit recently, with an unexpected drop in national credit stats serving to lower the overall appeal of the Australian currency. This comes in contrast to earlier gains recorded for the Australian currency.

Though the export and import prices from the second quarter respectively rose and fell in supportive movements on Thursday, Friday’s private sector credit stats for June fell from 0.4% to 0.2% on the month and dipped from 6.5% to 6.2% on the year.

In addition, annual PPI for Q2 fell from 1.2% to 1%, though the quarterly printing actually saw a rise from -0.2% to 0.1%.

Continued Falling Confidence sees Pound Sterling Rates Unsettled

The Pound has had an unenviable end to the previous week, having been knocked once again by falling confidence and concerning pre-’Brexit’ figures.

In the first instance, Friday morning’s GfK consumer confidence result for July fell from -1 to -12, which was the sharpest drop in around 26 years of recording.

In addition to this, the evening’s mortgage approvals stats for June also fell from a prior 66.72k to 64.77k, which heightened anxieties about how the figures for July onwards would turn out.

Compounding the uncertainty that is rife in the UK economy at present, Thursday night’s decision to go ahead with building the billion-Pound Hinkley Point C Power Station by EDF was brought to an abrupt halt by unexpected hesitancy from the UK government.

This last-minute reluctance has sparked a number of theories over why the stall was put in place; having examined the evidence, BBC Economics Editor Kamal Ahmed has said;

‘Under the present agreement, China would be in charge of the Bradwell project (another proposed power plant), and Theresa May’s adviser Nick Timothy has previously raised concerns about security and Chinese investment’.

Fifty Pounds Sterling (GBP)

AUD, GBP Forecast: Manufacturing Stats, Interest Rate Decisions due from Australia and UK Next Week

The week to come is set to bring mirrored economic announcements from Australia and the UK, starting off on Monday with Australia’s AiG manufacturing index for July. This has a rise from 51.8 to 52.6 forecast, while for the UK the finalised manufacturing PMI for the same month is expected to fall from 52.1 to 49.1.

A pair of interest rate decisions by central banks will also be major events to watch out for, with the Reserve Bank of Australia (RBA) decision coming on Tuesday afternoon. In this instance, forecasts have been mixed, with some seeing another rate freeze taking place and others predicting a cut from 1.75% to 1.50%.

The Bank of England (BoE) rate decision, due on Thursday night, is also forecast to have a potential cut in store, with economists putting around a 50/50 chance of the UK’s current interest rate of 0.50% being reduced to 0.25%.

Recent AUD, GBP Exchange Rates

The Australian Dollar Pound (AUD GBP) exchange rate has been trending in the region of 0.5702 and the Pound Australian Dollar (GBP AUD) exchange rate has been trending in the region of 1.7544 recently.


Oliver has developed an expert understanding of the Forex market and the main drivers behind currency movement since entering the financial sector. He writes daily articles covering the latest shifts in currency for a range of sources online, as well as providing potential forecasts of future movement. This gives his followers all the information they require to protect their international money transfers from market exposure and currency risk. - View all posts by Oliver Meredew

« Previous Story

Australian Dollar Pound (AUD GBP) Rate Slumps as Annualised Inflation Hits 17-Year Low

Next Story »

Australian Dollar Euro Exchange Rate Touches High of 0.68 on High Demand for Iron Ore

Disclaimer: and its data provider, TorFX, make no claims regarding the validity or exactness of the information provided in on this site and will not be held liable for any use, interpretation, or other implementation of the information provided. make no warranties, express or implied, as to results to be obtained from use of such information, and make no express or implied warranties of condition, quality, performance, merchantability or fitness for a particular purpose or use. shall not have any liability for the accuracy of the information contained in the services provided or ommissions there in which are made available on a free, as-is basis. None of the aforementioned parties shall be liable for any third party claims or losses of any nature, including, but not limited to, lost profits, punitive, consequential, special, incidental, indirect or similar damages even if advised of the possibility of such damages. Rates offered are interbank rates and may not be the same as offered by your financial institution, and do not include commissions. Rates shown on this site will vary from those provided by TorFX or other providers linked to from this site.