The Australian Dollar (AUD) has been the strongest currency across the board this week, against the British Pound (GBP) it extended its hold reaching 0.5900 (1.6950) overnight a fresh November 2017 high. UK Manufacturing came in light at 46.0 agst 51.0 as demand in the sector has fallen away. A more hawkish leaning Bank of England (BoE) has been doing the rounds of late with predictions their interest rate could peak as high as 4.5% around mid-2023. The GBP is suffering stagnation risks of late. With equity markets closing the day positive we should see the Aussie push higher into the weekly close.
The current interbank midrate is: AUDGBP 0.5892 GBPAUD 1.6972
The interbank range this week has been: AUDGBP 0.5810- 0.5907 GBPAUD 1.6927- 1.7209