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The AUD in demand against the Pound Sterling.

Written by Sam Coxhead on July 6th, 2012.      0 comments

4:49 PM (NZT) The Australian dollar has seen grinding appreciation against the Pound Sterling throughout the course of this week. The RBA comments accompanying its unchanged cash rate decision have supported the AUD. Conversely, in a week when the BOE increased the size of their QE program, the likelihood of a weaker GBP was high. Needless to say, that whilst not quite back at the levels seen in the first quarter of 2012, the current levels offer good value buying of GBP with AUD. The weak EURO has been a dragging factor on the GBP over the last couple of week, and this is likely to continue in the short term at least..  
 
The current interbank midrate is:                                                            AUDGBP  .6606                 GBPAUD 1.5138                                                                                         
 
The interbank range so far this week to date has been:                 AUDGBP .6513 – .6633  GBPAUD 1.5076 – 1.5353
 

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