The Australian Dollar (AUD) has been massacred thus far in 2024 coming from 0.5360 (1.8650), we have seen the British Pound (GBP) gain strength to 1.9330 (0.5175) this morning. Retail Sales in the UK sent the GBP lower briefly when data published at -3.2% instead of the anticipated -0.5% however the GBP recovered into the weekly close. UK Manufacturing data is predicted to come in soft Wednesday before an Aussie Day holiday Friday. Massive support at 0.5170 (1.9350) could come into play.
The current interbank midrate is: AUDGBP 0.4781 GBPAUD 2.0916
The interbank range this week has been: AUDGBP 0.5168- 0.5204 GBPAUD 1.9213- 1.9347