FX News

AUD/GBP Transfer:

The Australian Dollar (AUD) continued to kick on from last week’s low at 0.5220 (1.9150) extending to 0.5385 (1.8570) against the British Pound (GBP) the by-product of a dovish RBA. In a surprise move the RBA hiked interest rates to 4.10% Tuesday its 12th rise in just over a year. Lowe saying with rising wages this could trigger further increases. The Australian economy grew at its slowest pace since 2021 in the first quarter of 2023 just 0.2% raising questions of the aggressiveness of the RBA. Price in the pair is back around 0.5350 (1.8700) areas into Thursday with a little GBP demand. The cross is still trading in a bear trend, a cross through 0.5400 (1.8520) could signal a reversal.

The current interbank midrate is: AUDGBP 0.5351 GBPAUD 1.8688
The interbank range this week has been: AUDGBP 0.5299- 0.5385 GBPAUD 1.8569- 1.8868

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