CANBERRA: The Pound to Australian Dollar (GBP/AUD) exchange rate has risen by 0.3% on the afternoon of 23rd April, as mounting pressures in Australia weigh on the AUD.
The most recent factor causing a drag on the AUD has been the concern that efforts to prevent China influencing political parties could disrupt trade.
The Pound (GBP) has made a minor advance against the Australian Dollar (AUD) today, ahead of what could be an influential vote on Brexit in the House of Commons.
After a majority of peers backed the UK remaining in a customs union with the EU after Brexit, MPs will be voting on the matter in the House of Commons this week.
Government spokespeople have insisted that the UK will leave any union no matter what, so this week’s vote is largely expected to be a symbolic action.
That said, if a bulk of MPs do support the UK remaining in a customs union then Pound exchange rates could noticeably improve.
