The British Pound (GBP) extended early week moves against the Australian Dollar (AUD) reaching 0.6185 (1.9280) this morning, a fresh 4 week low in the cross. Risk off market conditions contributing along with the Pound getting a boost from August GDP figures. GDP released at 0.2% nicely up from July’s -0.6% weakening prospects of the Bank of England hiking in November especially given 3rd quarter growth is predicted to come in broadly flat. Looking into next week we have UK CPI y/y and Australian employment figures.
The current interbank midrate is: AUDGBP 0.5184 GBPAUD 1.9290
The interbank range this week has been: AUDGBP 0.5180- 0.5250 GBPAUD 1.9046- 1.9308