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The GBP outperforms the AUD.

Written by Sam Coxhead on March 30th, 2012.      0 comments

4:46 PM (NZT) The AUD has seen consistent pressure from the GBP throughout the course of this week. Further M&A demand for GBP has seen the Pound Sterling perform well across the board. The GBP strength, coupled with AUD weakness, provided an easy path for the AUD underperformance. Next week’s RBA monetary policy meeting has quickly become the focus for the pair in the short term. Whether the 25pt cut comes next week, or at the June meeting, is of little consequence. The interest rate differentials are closing, and this should see the overall  trend of a weaker AUD continue in the short term. Even current levels still represent good value buying of GBP from a historical perspective.
 
The current interbank midrate is:                                                            AUDGBP  .6507                   GBPAUD 1.5368                                                                      
 
The interbank range so far this week to date has been:                 AUDGBP .6481 – .6621    GBPAUD 1.5103 – 1.5430
 

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