The cross rate between the Australian Dollar (AUD) and the Great British Pound (GBP) has traded between 0.4875 (2.0515) and 0.4955 (2.0180), working in tandem, and ignoring the plunging US Dollar. Markets have been dominated by fears over tariff wars and the war drums being beaten by the British PM. Defence and aid spending are on a sharp incline, and this will be funded by extended deficit and debt. The UK remain in a precarious economy position and appear to be on a downward spiral.
Current Level: 0.4913
Support: 0.4810
Resistance: 0.5030
Last week’s range: 0.4874- 0.4955