FX News

AUD/GBP Transfer:

The British Pound (GBP) has been the best performing currency over the week, leaving the Australian Dollar (AUD) in its wake as it extended last week’s gains through to 0.5555 (1.8000) midweek. A significant 7-day turnaround from 0.5730 (1.7450) levels. UK Producer Managers Index (PMI) came in better than predicted at 46.2 vs 45.7 which is positive but still well under the index 50.0 indicating a contraction for businesses. Further covid lockdowns in China may keep the Aussie under pressure for a while together with Governor Lowe talking of a possible 0.50% rate increase as opposed to 75 points.

The current interbank midrate is: AUDGBP 0.5584 GBPAUD 1.7908
The interbank range this week has been: AUDGBP 0.5555- 0.5625 GBPAUD 1.7776- 1.7999

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