Business: A Currency Article

As a startup writer, I am aware that it would be helpful to have experience in different fields of the writing industry. This is why I recently submitted an informative blog piece of writing (200-250 words) to Earn Forex, who run a blog with updates on recent currency changes. I did not feel entirely comfortable writing this piece, as I am not too confident about some of the terminology used in this field. However, I had a go, and sent this short article in as a paid test piece: 

This time last year, 1 British Pound (GBP) equated to 2.2 Australian Dollars (AUD), but after a steady decline throughout the year, the exchange rate hit new lows this week: 1 British Pound is now equal to only 1.6 Australian Dollars.

The fall of the pound after the Brexit vote increased after Theresa May put a deadline to the invocation of Article 50, announcing a date of the UK’s separation from the EU, March, 2017 (the full story is available here: http://www.bbc.co.uk/news/uk-politics-37532364). However, this more recent slump in British Pound (GBP) to Australian Dollar (AUD) exchange rates is owing to factors that occurred on Tuesday 25th and Wednesday 26th October.

On Tuesday, Chancellor Philip Hammond released comments that not only vanquished hopes of an MP vote on Brexit, but destroyed the support the Pound Sterling (GBP) had left. He confirmed that the UK government would not reject monetary policies put in place by the Bank of England (BoE), including the possible extension to quantitative easing (read more here: https://www.earnforex.com/news/?s=quantitative+easing). As a result of this, the value of the British Pound plunged still lower.

The Reserve Bank of Australia (RBA) previously stated that it would not maintain a neutral stance on monetary policy, causing a drop in value for the Australian Dollar (AUD). On Wednesday, however, Australia’s publication of the Q3 Consumer Price Index (CPI) showed a rise in the Australian Dollar value (AUD), as these fears were neutralised, and the division between the Pound and the Australian Dollar rose once more.

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