5:45 PM (NZT) Unsurprisingly the AUD has start to run out of steam against the GBP around current levels. The prospect of an RBA cut to the cash in Australia is starting to take its toll on demand the AUD. With the expected BOE extension of the QE program mostly factored in, the GBP has potential to take back some of the ground it lost in January. Next week the economic focus will squarely be on the two respective central banks. With the RBA expected to cut 25pts to 4.0% and the BOE potentially adding to their QE initiate, the interest will be high. Current levels represent very good value buying of GBP from a historical perspective.
 
The current interbank midrate is:                                                            AUDGBP .6769                               GBPAUD 1.4773
                                                               
The interbank range so far this week to date has been:                 AUDGBP .6712 - .6792                GBPAUD 1.4723 – 1.4899