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Anthony from Moneycorp

GBP/AUD Exchange Rate Vulnerable to Fresh Brexit Developments

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Further volatility looks likely for the GBP/AUD exchange rate in the wake of Parliament’s next round of votes, with markets still weighing up the likely outcome of the Brexit process.

If an amendment paving the way for a second referendum gains sufficient support this could offer the Pound a fresh boost.

However, the prospect of an extended period of Brexit-based uncertainty and political anxiety may weigh on GBP exchange rates in the wake of the results.

Even if MPs vote in favour of extending the deadline unless there are signs of progress towards a workable deal the upside potential of the Pound is likely to prove limited.

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