The Australian Dollar (AUD) made small gains over the week to reach 0.5230 (1.9130) against the British Pound (GBP) before falling away to around the weekly open at 0.5270 (1.8980) Friday. The AUD still looks heavy after 6 weeks of declines, it’s hard to see any shift back towards 0.5155 (1.9400) support in the near term. Next week’s RBA cash rate release is not expected to reflect a shift from the current 4.10%
The current interbank midrate is: AUDGBP 0.5266 GBPAUD 1.8989
The interbank range this week has been: AUDGBP 0.5227- 0.5275 GBPAUD 1.8957- 1.9128