Risk sentiment in markets improved throughout the week with the Australian Dollar (AUD) recovering off 0.5180 (1.9300) levels to post 0.5245 (1.9070) into Friday. The cross sits at the top of the recent range going back to January this year- a rally past 0.5265 (1.9000) would suggest further upside could be on the cards. All eyes are on next week’s RBA and Bank of England rate releases and statements with no change expected from the BoE’s 5.25% and RBA’s 4.35%, although a small chance the central bank could hike one more time. This could put the cat among the pigeons if a hike eventuates.
The current interbank midrate is: AUDGBP 0.5240 GBPAUD 1.9083
The interbank range this week has been: AUDGBP 0.5178- 0.5251 GBPAUD 1.9041- 1.9309