Not since the Covid pandemic has the British Pound (GBP) been as strong, against the Australian Dollar (AUD) with prices on the verge of clocking the highest weekly close since April 2020. Currently the cross is trading around 1.9655 (0.5085) after starting the week at 1.9270 (0.5190) it’s been unstoppable. UK Manufacturing expanded in July jumping to a 15-month high boosted the GBP. Next week’s Bank of England (BoE) cash rate announcement is now in focus with an expected cut from 5.25% to 5.0%
The current interbank midrate is: AUDGBP 0.5091 GBPAUD 1.9642
The interbank range this week has been: AUDGBP 0.5060 GBPAUD 1.9272- 1.9760