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Do current levels oiffer good value buying of AUD with GBP?

Written by Sam Coxhead on September 28th, 2012.      0 comments

3:28 PM (NZT0This pair has traded an uncharacteristically contained range this week.  The pair has not been able to consolidate through the significant AUD support level of .6400 (GBP resistance 1.5625). Possibly next week will see further attempts to push through this level if the RBA ease their cash rate by 25pts on Tuesday. The BOE meeting later on it in the week is unlikely to be of any impact with no change to monetary policy expected. In the absence of any rumoured Chinese stimulation package, any material attempt by the AUD to appreciate should be hard fought. An unchanged decision from the RBA could well mean that current levels of the pair will have offered reasonable value buying o f the AUD with GBP.
 
The current interbank midrate is:                                                            AUDGBP  .6439                   GBPAUD 1.5530                                                                                         
 
The interbank range so far this week to date has been:                 AUDGBP .6389 – .6441     GBPAUD 1.5528 – 1.5652
Topics: AUD GBP
 

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