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The Pound Sterling does enough to maintain pressure on the AUD.

Written by Sam Coxhead on March 16th, 2012.      0 comments

4:38 PM (NZT) The Pound Sterling continued its recent pressure on the Australian dollar this week. However price action has been by no means all in favour of the GBP. Next week will be interesting to see if further pressure on the AUD continues. Consolidation through the .6650 (GBPAUD 1.5040) level is needed to open up the way for another downward move by the AUD. The RBA monetary policy meeting minutes released next week, will be closely watched, for indicators as to what the likely future interest rate movements maybe. Any further indications of slowing growth in Australia’s important Asian trading partners, will represent risk for the AUD.
 
The current interbank midrate is:                                                            AUDGBP  .6695                   GBPAUD 1.4937                                                                                         
 
The interbank range so far this week to date has been:                 AUDGBP .6641 – .6745    GBPAUD 1.4826 – 1.5058
 

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