The Bank of England (BoE) left monetary policy on hold at 5.00% last night as expected but members were split over the decision 1-8. Governor Bailey saying they should be able to cut rates “gradually” overtime. The British Pound (GBP) was firmer post the announcement kicking off 1.9400 (0.5155) to 1.9500 (0.5130) over the last few hours. Earlier the Australian jobs data improved the AUD on better than expected August numbers with 47,500 more people entering the jobs market compared to 26,000 expected. The unemployment rate remained steady at 4.2%. Next week’s RBA cash rate will remain at 4.35% and should bring buyers back into AUD.
The current interbank midrate is: AUDGBP 0.5127 GBPAUD 1.9504
The interbank range this week has been: AUDGBP 0.5101- 0.5155 GBPAUD 1.9396- 1.9603