FX News

AUD/GBP Conversion:

The British Pound (GBP) has had its best week against the Australian Dollar (AUD) since mid-August clocking 1.7220 (0.5810) midweek boosted by better-than-expected UK Inflation data printing and assisted by a general risk off tone. UK Inflation came in at 9.9% off 10.1% y/y the highest it’s been since 1982 followed by Australian jobs data, the Unemployment Rate unexpectedly clicking higher to 3.5% from 3.4% in August as the workforce added 33,500 jobs to the economy. The bullish trend in the cross should continue with a retest of 0.5880 (1.7000) likely in the coming days but global risks remain

The current interbank midrate is: AUDGBP 0.5845 GBPAUD 1.7108
The interbank range this week has been: AUDGBP 0.5809- 0.5919 GBPAUD 1.6893- 1.7213

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