Pound reaches 16 month high against Australian Dollar

Australian foreign currency exchange

The Pound against the Australian Dollar and New Zealand Dollar is at a 16 month high as result of restored Brexit negotiation hope.

The Sterling rose against the Australian and New Zealand Dollar on Thursday to the highest levels since last year's Brexit vote, thanks to the hope that some progress is being made in the Brexit negotiations. The Pound strengthened following reports on Wednesday evening that suggested the UK's "divorce settlement" from the European Union was approaching agreement. UK investors certainly welcomed this prospect, as Sterling climbed to 4 cents, to over 1.775, against AUD and nearly 5 cents, to over 1.965, against NZD.

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