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The AUD bounces against the Pound Sterling.

Written by Sam Coxhead on May 18th, 2012.      0 comments

4:33 PM (NZT) After seeing initial further pressure from the GBP, the AUD has bounced back positively against the GBP in the last couple of days. The BOE comments around the European uncertainty have driven the move. The GBP gave up substantial ground against the EURO as the prospect of further QE from the BOE increased, and this has fed through to other pairings, such as the AUD. It will be interesting to see if these gains will continue next week. There is an absence of material Australian economic data, so the lead for the pair will continue to come from offshore. Even at current levels, those looking to stagger funds transfers from the UK to Australia should feel comfortable. 
 
The current interbank midrate is:                                                            AUDGBP  .6269                   GBPAUD 1.5952                                                                                        
 
The interbank range so far this week to date has been:                AUDGBP .6179 – .6289    GBPAUD 1.5901 – 1.6184
Topics: AUD, GBP
 

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