Record shifts in prices in the Australian Dollar (AUD), British Pound (GBP) has seen the Aussie monster the Pound over the last fortnight clocking 0.5500 (1.8190) in morning trading as it bares down on 0.5520 (1.8120) resistance. Punters are betting that the war in Ukraine is unlikely to hinder the Bank of England from raising rates again in March although some scaling back from early hike projections will most likely happen towards the end of this year. Aussie December quarter GDP came in slightly below forecast at 3.4% with big picture growth a little uncertain with the war in Ukraine continuing to provide markets with wild swings. Looking into next week- economic data is thin.
The current interbank midrate is: AUDGBP 0.5491 GBPAUD 1.8211
The interbank range this week has been: AUDGBP 0.5369- 0.5498 GBPAUD 1.8186- 1.8624