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The AUD GBP pairing sees rapid moves.

Written by Sam Coxhead on July 27th, 2012.      0 comments

4:55 PM (NZT) This pair has again seen some reasonable volatility this week, with the AUD seeing some initial pressure as the wider market risk aversion increased. Then came the at expectation Australian inflation number and very weak UK GDP result. The resulting sessions took the AUD from the lows to the week to the highs. Last night’s ECB comments benefitted the GBP more so than the AUD in the end, but given the current lofty levels  of the AUD that is not too surprising. Short term direction from the current levels is hard to pick. The focus of the next week will be the BOE monetary policy decision on Thursday. It is likely we will see the wider range .6500 - .6700 ( 1.4925 – 1.5385 contain the price action in the coming week.
 
The current interbank midrate is:                                                            AUDGBP  .6638                 GBPAUD  1.5065                                                                                      
 
The interbank range so far this week to date has been:                 AUDGBP .6568 – .6681   GBPAUD 1.4968 – 1.5225
Topics: GBP AUD
 

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