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The Pound Sterling sees grinding appreciation against the AUD

Written by Sam Coxhead on November 11th, 2011.      0 comments

5:05 PM (NZT) This pair has been a little less volatile this week, compared to recent weeks. As expected with the wider market risk aversion the AUD has underperformed the GBP, even in the face of the solid Australian employment numbers yesterday. The GBP has benefitted by a large appreciation against the EURO this week, which has feed through to other currency pairings. Also helping the GBP overnight was the unchanged monetary policy stance from the BOE, as some banks had picked that they would further increase their quantitative easing efforts. Whilst market risk aversion remains high, expect the AUD to continue to be outperformed by the Pound Sterling.
 
The current interbank midrate is:                                                            AUDGBP .6369                               GBPAUD 1.5701
                                                               
The interbank range so far this week to date has been:                 AUDGBP .6321 - .6492                GBPAUD 1.5404 – 1.5820
 

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