Early weeks pull back by the Australian Dollar (AUD) from 0.5170 (1.9340) to 0.5220 (1.9150) against the British Pound (GBP) continued into Thursday with improved risk trading and soft UK manufacturing data. The Pound has since recovered Friday to 0.5200 (1.9220) after the Federal Reserve leaned a little more hawkish. Aussie jobs data came in hot with nearly 40,000 people entering the workforce in May. Unemployment dipped to 4.0% as markets were expecting with any hope of the RBA cutting rates this year gone on these solid numbers. Next week’s docket sees RBA and BoE rate announcements.
The current interbank midrate is: AUDGBP 0.5193 GBPAUD 1.9256
The interbank range this week has been: AUDGBP 0.5170- 0.5223 GBPAUD 1.9146- 1.9342