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The AUD takes back lost ground against the GBP.

Written by Sam Coxhead on September 14th, 2012.      0 comments

3:38 PM (NZT) This week the Australian dollar continued to take back some of its recently lost ground against the Pound Sterling. The pickup in the wider market risk appetite is almost solely responsible for the increase in demand for the Australian dollar.  Direction from current levels is uncertain, with the next solid resistance to AUD appreciate coming in at .6580 (1.5200 support). Whilst further AUD appreciation cannot be ruled out, further progress from current levels should be harder fought at least. Next week will prove interesting for both economies. In the UK we have inflation numbers on Tuesday, ahead of the BOE monetary policy meeting minutes on Wednesday, and retail sales numbers on Thursday. In Australia the focus comes from the RBA monetary policy meeting minutes, ahead of the latest Chinese manufacturing numbers on Wednesday.
 
The current interbank midrate is:                                                            AUDGBP  .6540                    GBPAUD 1.5291                                                                                        
 
The interbank range so far this week to date has been:                 AUDGBP .6448 – .6541     GBPAUD 1.5288 – 1.5509
Topics: AUD GBP
 

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