Sterling soars against the Aussie Dollar

Sterling soars against the Aussie Dollar

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Sterling soars against the Aussie Dollar

A significant drop in stocks and oil has impacted a basket of currencies. 

Oil prices fell by 30%, Japan’s Nikkei 225 index dropped 5% and Australia’s ASX 200 experienced its biggest daily drop since 2008, falling 7.3%. 

Sterling is up against the Aussie and a host of other commodity driven currencies, such as the Kiwi and the Canadian Dollar, as oil prices have plummeted over threats of a price war between OPEC and Russia. The spread of the coronavirus over the weekend has affected worldwide confidence in the markets as well. 

 

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