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The AUD manages to find some support against the GBP.

Written by Sam Coxhead on September 21st, 2012.      0 comments

4:25 PM (NZT) The Australian dollar has seen further pressure from the Pound Sterling this week , whist the pair remains in somewhat familiar territory. The RBA minutes eased the way for the AUD lower on Tuesday as the pair established the base level support at .6400 (1.5625 resistance) for the week . With news from the BOE minutes that debate remains about additional QE measures, the GBP remain in relative demand. Global manufacturing numbers remain soft and this will re-iterate views that demand for the AUD should remained capped in the short term at least. So the .6400 (1.5625) level remains the target for further GBP appreciation in the short term, with resistance coming in at .6500 (1.5385 support) initially. Expect further range trading into next week in the absence of any data of material impact.
 
The current interbank midrate is:                                                            AUDGBP  .6445                  GBPAUD 1.5516                                                                                     
 
The interbank range so far this week to date has been:                 AUDGBP .6404 – .6507   GBPAUD 1.5368 – 1.5612
Topics: GBP AUD
 

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