FX News

AUD/GBP Transfer

The Australian Dollar extended moved past key 0.5300 (1.8870) levels Monday against the British Pound going on to reach 0.5370 (1.8630) in early Friday trading. The RBA minutes confirming the central bank had considered another hike but chose to halt hikes for longer periods. The Bank of England will be happy as Larry after CPI released earlier in the week way down on expectations of 4.3% coming in at 3.9%. Talk of cuts has now come back on the table with the forecasts suggesting the BoE will start to cut earlier than later possibly in the first quarter 2024 as analysts consider inflation falling further in the coming months. 0.5400 (1.8500) is seen as big resistance on the chart, a breakthrough here and we could see more upside in the cross.

The current interbank midrate is: AUDGBP 0.5359 GBPAUD 1.8660

The interbank range this week has been: AUDGBP 0.5281- 0.5369 GBPAUD 1.8624- 1.8934

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