FX News

AUD/GBP Transfer

6 weeks of momentum in the Australian Dollar (AUD) ended Wednesday against the British Pound (GBP) when price clocked 0.5200 (1.9220) the GBP pulling back 2 weeks of declines. The RBA helped to inspire a rebound in the GBP as risk returned to markets, but the cross was unfazed. RBA’s new governor Michele Bullock was careful in her statement not to give away hints of a future rate hike. Solid UK PMI reads, and broad-based selling of the Aussie is the theme into Friday. Breaking below support at 0.5250 (1.9050) we may see further downside in the AUD leading into the close.

The current interbank midrate is: AUDGBP 0.5226 GBPAUD 1.9135

The interbank range this week has been: AUDGBP 0.5202- 0.5285 GBPAUD 1.8921- 1.9223





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