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Is it time for the GBP tpo push on against the AUD?

Written by Sam Coxhead on October 26th, 2012.      0 comments

4:35 PM (NZT) It has been an interesting week for this pair . Both currencies have seen periods of strong demand, but the strong UK GDP number and weak stock markets have seen the GBP push the Australian dollar to the lows for the week. The pair remains towards the higher end of the recent .6280 - .6480 (lower 1.5430 – 1.5925) range. Certainly if the UK data continues to perk up, and the odds on further QE from the BOE fall, there is room for further appreciation from the GBP in the short to medium term. Next week there is mainly second tier data in both economies, so it seems likely the wider market sentiment will drive the price action, and likely within the familiar contained range once again.
 
The current interbank midrate is:                                                  AUDGBP  .6409              GBPAUD 1.5603 
                                                                                         
The interbank range so far this week to date has been:       AUDGBP . 6406 - .6470             GBPAUD 1.5456 – 1.5610
Topics: GBP AUD
 

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