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The AUD sets new record highs against the GBP, has it peaked?

Written by Sam Coxhead on February 17th, 2012.      0 comments

5:30 PM (NZT) The AUD again set new record highs against the Pound Sterling this week. The unchanged RBA cash rate decision from last week, couple with the better than expected employment numbers this week, mean the AUD should remain in demand against the GBP in the short term. The BOE monetary policy meeting minute release next week will be crucial. A split decision on the increase in QE from the BOE would be beneficial to the GBP, as it would decrease the likelihood of any further QE in the coming months. Headway from the current levels will be harder fought for the AUD, as its upside moment slows at these record levels.  
 
The current interbank midrate is:                                                            AUDGBP  .6820                   GBPAUD 1.4663                                                                                         
 
The interbank range so far this week to date has been:                 AUDGBP .6761 - .6868     GBPAUD 1.4560 - 1.4791
 

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