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The AUD stablises against the Pound Sterling

Written by Sam Coxhead on May 11th, 2012.      0 comments

5:30 PM (NZT) The GBP appreciation over the AUD has slowed in it momentum this week. This saw a relatively contained range play out for the pairing. The AUD did see pressure early in the week following the French and Greek election results, but rebounded yesterday following the stronger than expected employment results. However the lack of further monetary policy stimulation from the BOE saw GBP increase again in the offshore session negating much of yesterday’s gains for the AUD. Next week the focus will be on the RBA meeting minutes in Australia.
 
The current interbank midrate is:                                                            AUDGBP  .6240                                                                                         
 
The interbank range so far this week to date has been:                 AUDGBP .6217 – .6301
 

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