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Further range trading for the AUD GBP pair.

Written by Sam Coxhead on November 2nd, 2012.      0 comments

4:36 PM (NZT) This week has seen a continuation of trading in the recently familiar and contained .6380 - .6480 (1.5432 – 1.5675) range. After pushing down to the AUD lows for the week yesterday, the AUD has seen some reasonable demand in the last couple of sessions. Both central banks are featuring next week, but the chances of any action are all with the RBA, at their meeting on Tuesday. Expect the familiar range to continue ahead of that announcement at least, and probably throughout next week assuming that the 3rd quarter Australian employment numbers are not materially different from the markets expectations. The GBP is due for some appreciation at some stage soon, and over the coming months the current levels may prove to have offered good value buying of GBP with Australian dollars.
 
The current interbank midrate is:                                                  AUDGBP .6450                             GBPAUD 1.5503 
                                                                                         
The interbank range so far this week to date has been:       AUDGBP .6408 - .6463              GBPAUD 1.5473 – 1.5605
Topics: GBP AUD
 

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