The British Pound (GBP) bounced off solid resistance at 1.9350 (0.5170) as we predicted it would against the Australian Dollar (AUD) falling to 1.9290 (0.5185) into early Friday sessions. A higher UK CPI y/y read for June came in at 2.0% based on 1.9% estimates raising concerns for earlier rate cuts by the Bank of England (BoE). Australian unemployment rose to 4.1% as predicted, up from 4.0% in May, the AUD receiving a boost back at 0.5190 (1.9260) overnight during NY.
The current interbank midrate is: AUDGBP 0.5171 GBPAUD 1.9338
The interbank range this week has been: AUDGBP 0.5165- 0.5230 GBPAUD 1.9117- 1.9359