FX News

AUD/GBP Transfer

The Australian Dollar (AUD) continues to be taken to task by the British Pound (GBP) in 2024. Overnight action has seen the cross break into new ground at 0.5145 (1.9440) a fresh yearly low. The Bank of England (BoE) kept rates unchanged at 5.25% in a 6-3 vote. The central bank is confident they have their policy setting correct on the path to bringing back inflation to 2.0% target. Early in the week the RBA left their key interest rate on hold at 4.35% in the first policy meeting for 2024. Inflation remains high was the call from the RBA, inflation continued to ease in the December quarter but still remains high. The RBA has not written off prospects of hiking further. The next target of interest slides at support at 0.5075 (1.9700), next week’s UK CPI and Aussie jobs data will be key.

The current interbank midrate is: AUDGBP 0.5143 GBPAUD 1.9443

The interbank range this week has been: AUDGBP 0.5140- 0.5194 GBPAUD 1.9250- 1.9452

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