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The AUD consoldiates at higher levels against the Pound Sterling

Written by Sam Coxhead on October 20th, 2011.      0 comments

2:15 PM (NZT) The AUDGBP pairing has been relatively stable this week, after the sharp bounce back from the AUD last week. Both the BOE and RBA minutes were of somewhat limited impact. The UK inflation number initially saw the GBP under pressure across the board, but the AUD has given that ground back over the last 24 hours. Sentiment towards a definitive outcome on the European debt issue at the EU summit on Sunday has slipped, and this has caused the AUD to soften. The wider market appetite for risk will be driven by the perceived likely success at the EU summit for a remainder of the week, with the UK retail sales data later today being closely watched also. Current levels continue to offer good value buying of GBP with AUD, from a historical perspective.
 
The current interbank midrate price is:       .6496                     (GBPAUD  1.5394)
                                                               
The interbank range so far this week to date has been:.6421 - .6558 (GBPAUD 1.5248 - 1.5573)
 

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