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The AUD grinds back against the Pound Sterling.

Written by Sam Coxhead on June 1st, 2012.      0 comments

5:19 PM (NZT) The AUD has seen grinding appreciation against the Pound Sterling this week. There has been a combination of factors affecting the price action. The GBP has given up some of its recent gains as the European situation has meant there will be increased downward pressure on UK growth. Quantitative easing has again come onto the agenda at the BOE and this has undermined GBP demand to some extent. The solid Australian capital expenditure numbers gave the AUD a solid boost yesterday, before the weak Chinese manufacturing numbers today reversed the gains. Expect the contained nature of the price action to continue in next week for the most part, as the RBA becomes the focus.  
 
The current interbank midrate is:                                                            AUDGBP  .6295                GBPAUD 1.5886                                                                                         
 
The interbank range so far this week to date has been:                 AUDGBP .6226 - .6331  GBPAUD 1.5795 – 1.6062
Topics: AUD GBP
 

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