DirectFX-phone-number-and-phone-image3.gif

p_7_top.jpg

Get a free Quote

Name
Email
Phone
From CCY
To CCY
Amount
Message
please type the characters you see:
(spam filter)
spam control image
 
p_1_top.gif

Apply now

Obligation free account and currency commentary btn_apply_for.gif
p_1_bottom.gif
Browse By Topic
Archive

FX News

Most recent FX News:

Read more

The Australian dollar places renewed pressure on the GBP

Written by Sam Coxhead on October 13th, 2011.      0 comments

5:48 PM (NZT) The AUD has outperformed the Pound Sterling through the course of this week so far. Driven in part from the slight surprise of additional QE from the BOE last week, another driving factor has been the very quick shift to demand for growth assets, of which the AUD is one. This incredibly quick turnaround in sentiment in part has been driven by a reversal of positions in the USD as a defensive play. The covering of the “bought” USD positions reportedly by large hedge funds, has also flushed out many other investors. Whilst it remains to be seen if these gains can be maintained, todays’ Australian employment number would have gone a little way to ensuring they do. It certainly appears to be an opportunity for people looking to buy GBP with AUD, especially if you believe this latest wave of optimisim, has come a little early for both Europe and the global economy.
 
The current interbank price is:  .6475 (AUDGBP 1.5444)
                                                               
The interbank range on the week to date has been:  .6246 - .6482  (AUDGBP1.5427/1.6010)
 

Comments