FX News

AUD/GBP Transfer:

The Australian Dollar (AUD) has done well over the week to hold ground around 0.5385 (1.8570) areas after a slew of poor data published in China. However, with wage growth figures up- the unemployment rate dropping from 3.7% to 3.6% this has cast doubt over forecasting that the economy is slowing with employment participation increasing over 79k in the month of May. We see further tightening in the coming months eventuating and the widening yield differentials pushing the cross into 0.5260 (1.9000) territory over the coming weeks.

The current interbank midrate is: AUDGBP 0.5381 GBPAUD 1.8583
The interbank range this week has been: AUDGBP 0.5347- 0.5406 GBPAUD 1.8497- 1.8699

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