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At the time of writing the pair are currently trading at around AU$1.7881.
Pound (GBP) Supported by Extended UK Furlough Scheme
The Pound found itself supported this morning after the announcement of an extension of the furlough scheme in the UK until September, as investors await the UK budget this afternoon.
Announcing the support, Chancellor Rishi Sunak said:
‘There s now light at the end of the tunnel with a roadmap for reopening, so it s only right that we continue to help business and individuals through the challenging months ahead - and beyond.’
The Pound was further supported by the IHS Markit UK Services PMI for February.