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AUD to GBP – 1 AUD to GBP

When converting Australian dollars (AUD) to Pounds Sterling (GBP), or GBP to AUD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives AUD/GBP currency conversion rates.

AUD to GBP Overview:The Australian dollar is currently seen as a barometer for global growth. Whilst the Pound Sterling is also seen as a “growth currency”, it gravitates closer to the middle of the “growth currency, safe haven currency” spectrum, in terms of currency risk profiles. Australia’s exposure to the Asian growth economies of the past decade, has seen it make what is now arguably a paradigm shift higher in value, against the Pound Sterling.

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Historical Ranges: 1 year 5 years 10 years
AUD/GBP .5618 – .6716 .4482 – .6955 .3693 – .6955
GBP/AUD 1.4890 – 1.7800 1.4378 – 2.2311 1.4378 – 2.7078

Current Official Cash Rates:
Reserve Bank of Australia (RBA): 1.50%         Bank of England (BoE): 0.75%

View AUDGBP charts

The British Pound (GBP) has retraced off its low of 0.5800 (1.7230) Monday reversing much needed losses of the past eight weeks against the Australian Dollar, reaching fresh levels of 0.5650 (1.7700). Brexit is still occupying media coverage with Theresa May now increasingly unlikely she will get the support she needs to swing the December 11 parliament vote for an orderly exit from the EU. Aussie quarterly GDP printed much lower than markets were expecting at 0.3% based on predictions of 0.6% showing the Australian economy slowed sharply over the last quarter. The RBA has left the cash rate unchanged as widely expected confirming the rate would remain at 1.50% for some time. Continuing the downward spiral of the AUD we expect prices to retest 0.5550 (1.8000)

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5656   GBPAUD 1.7680
The interbank range this week has been:AUDGBP 0.5636- 0.5801  GBPAUD 1.7238- 1.7742

View AUDGBP charts

The prospects of any meaningful upside for the British Pound (GBP) over the Australian Dollar (AUD) this week looks bleak with the Pound expected to carry on with its downside bias. Markets are waiting for December 11 when the UK parliament votes of Theresa may’s deal. In the meantime the pair trades up at 0.5780 (1.7310) after being at 0.5815 (1.7200) midday Monday. These are January 2018 highs which look like they could turn into yearly highs if the RBA statement releases well today. The RBA is due to announce their cash rate this afternoon which is widely expected to remain the same at 1.50%, anything hawkish in the statement won’t be favorable for the Pound. Aussie Retail Sales releases Thursday

Exchange Rates:
Current Level: 0.5780 (1.7301)
Resistance: 0.5815 (1.7500)
Support: 0.5715 (1.7200)
Last week’s Range: 0.5653-0.5811 (1.7210-1.7691)

View AUDGBP charts

The Australian Dollar (AUD) broke through resistance this morning to trade at a two month high of 0.5750 (1.7390) against the British Pound. Brexit is inching closer to a resolve after the EU agreed to support the draft. PM Theresa May must now convince her parliament over the next few days to support her wishes on a future split from the EU with the deadline date of December 11 approaching. Pound crosses will continue to be choppy over the next few weeks but buying GBP at levels over 0.5700 is attractive.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5728   GBPAUD 1.7458
The interbank range this week has been:AUDGBP 0.5632- 0.5700   GBPAUD 1.7391- 1.7755

View AUDGBP charts

The Australian Dollar (AUD) rallied off the open to 0.5670 (1.7640) against the British Pound (GBP) before reversing back to 0.5640 (1.7740) on a lack of positive risk sentiment. Brexit is inching closer to a resolve after the EU agreed to support the draft over the weekend. PM Theresa May must now convince her parliament over the next few days to support her wishes on a future split from the EU. The pair will remain in a state of confusion with direction tough to pick based on Brexit headlines. The G20 summit will no doubt throw up surprises when it starts on Friday.

Exchange Rates:
Current Level: 0.5634 (1.7750)
Resistance: 0.5720 (1.7860)
Support: 0.5600 (1.7480)
Last week’s Range: 0.5613-0.5707 (1.7520-1.7814)

View AUDGBP charts

Slowly but surely the British Pound made up lost ground against the Australian Dollar (AUD) this week posting 0.5610 (1.7820) as it recovered off its recent high of 0.5715 (1.7500)
Signs that a Brexit deal may be within sight has buoyed the pair off the early week high of 0.5725 (1.7470), the bearish trend from October 2018. The meeting with Theresa May and Juncker seemed to go well with May saying she has made good progress but warned her government that a note against Brexit would men risking no Brexit deal at all. Next week is a light week on the docket with only tier one Bank Stress Test Results to publish. G20 meeting in Argentina starts on the Thursday.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5630   GBPAUD 1.7762
The interbank range this week has been:AUDGBP 0.5613- 0.5719   GBPAUD 1.7485- 1.7815

View AUDGBP charts

The British Pound took on more water Friday against the Australian Dollar (AUD) diving to 0.5720 (1.7480), a two month high after Brexit continues to damage sentiment. Theresa May remains defiant she will get the deal done after her main negotiator Raab resigned late last week. The Pound has opened the week on a positive tone recovering off the high to 0.5662 (1.7630) on a lack of any real Brexit news this week. Risk markets hold the ace with the Pound ready to be taken apart again once further detrimental news releases. Data this week in the pair is light with only UK Treasury Committee Hearing tonight.

Exchange Rates:
Current Level: 0.5671 (1.7633)
Resistance: 0.5720 (1.7700)
support: 0.5650 (1.7480)
Last week’s Range: 0.5537-0.5722 (1.7477-1.8060)

View AUDGBP charts

The British Pound (GBP) was attacked from all angles last night with the latest in Brexit nervousness leading the way. The Australian Dollar (AUD) reached a new high of 0.5715 (1.7500) versus the Pound. Australian employment figures printed up on expectations with UK Retail Sales coming in much worse than expected at -0.5% compared to 0.2% predictions but at this point late Thursday night after the open of UK markets the rot has already set in with Brexit headlines digesting lead negotiator Raab’s resignation and a possible vote of no confidence for Theresa May as she comes under further scrutiny. Possible declines in the Pound could eventuate if Brexit doesn’t get sorted with a possible retest of 0.5865 (1.7050) early January 2018 prices.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5694   GBPAUD 1.7562
The interbank range this week has been:AUDGBP 0.5713- 0.5536   GBPAUD 1.7504- 1.8064

View AUDGBP charts

The British Pound (GBP) slipped further into the red from the weekly open against the Australian Dollar (AUD) reaching 0.5610 (1.7820) on Brexit news. Chief Brexit negotiator Barnier briefed the EU last night that there has been no progress with the Irish Border following negotiations. Unless progress is made by Wednesday a draft deal signed this month at the EU summit looks unlikely. UK yearly CPI releases Wednesday and Retail Sales Thursday to possibly offer support back into the Pound with Australian unemployment Thursday the key driver for the AUD this week.

Exchange Rates:
Current Level: 0.5576  (1.7935)
Resistance: 0.5610 (1.8150)
Support: 0.5510 (1.7820)
Last week’s Range: 0.5510-0.5610 (1.7827-1.8148)

View AUDGBP charts

The British Pound (GBP) has a lot on its hands at the moment trying to digest speculation of a brexit deal in the coming days and the results in the midterm election with the democrats taking the house. The Australian Dollar (AUD) has enjoyed post election results risk on market pushing higher to 0.5580 (1.7920). It eyes the prior low of 0.5600 (1.7860) of late October as a possible retest if tonight’s UK data prints down. The RBA left rates unchanged at 1.50% sounding a little upbeat on future growth projections lifting the AUD. UK monthly GDP prints tonight along with manufacturing data.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5554   GBPAUD 1.8004
The interbank range this week has been:AUDGBP 0.5505 – 0.5575   GBPAUD 1.7936 – 1.8166

View AUDGBP charts

The British Pound (GBP) gaped higher to 0.5525 (1.8090) on the weekly open against the Australian Dollar (AUD) after positive Brexit news bought back buyers into the Pound. Trading Tuesday at 0.5530 (1.8080) we have seen a slide below 0.5550 (1.8020) confirming a break of the bullish channel from 0.5350 (1.8700) of early October. Market interest will be on today’s RBA statement and cash rate with no change expected. A hawkish statement by governor Philip Lowe will certainly put further pressure on the Aussie heading into UK’s GDP Friday.

Exchange Rates:
Current Level: 0.5523 (1.8106)
Resistance: 0.5600 (1.8230)
Support: 0.5485 (1.7850)
Last Week’s range:0.5505-0.5597 (1.7866 -1.8166)

View AUDGBP charts

The Australian Dollar (AUD) continued its four week rally comeback against the British Pound (GBP) topping out at 0.5600 (1.7860) Thursday. Australian Trade Balance figures surprised markets when they published at a whopping 3.02Billion surplus instead of the 1.71 Billion markets were predicting rallying the Aussie from 0.5535 (1.8070). The Bank of England maintained their cash rate at 0.75% in a 0-9 vote saying their 2% inflation target is in sight, leaving the cash rate unchanged will help boost growth and employment. The Pound traded back to 0.5535 (1.8070), on the back of positive Brexit headlines, where it is Friday Lunch.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5545   GBPAUD 1.8035
The interbank range this week has been:AUDGBP 0.5481- 0.5597   GBPAUD 1.7866- 1.8245

View AUDGBP charts

The British Pound (GBP) lost ground last week versus the Australian Dollar (AUD) reaching a low of 0.5540 (1.8050) continuing its demise from the low of 0.5340 (1.8720) in mid October. Brexit concerns are still weighing on general sentiment and will continue to do so until headlines print positive tone. The Bank of England will release their official cash rate Friday morning our time which should see rates remain unchanged in a 0-9 vote. Watch for key Aussie data later in the week with Retail Sales to show 0.3% growth and possibly push price action to retest 0.5550 (1.8000) of September.

Exchange Rates:
Current Level: 0.5520 (1.8116)
Resistance: 0.5555 (1.8700)
Support: 0.5350 (1.8000)
Last Week’s Range:0.5418-0.5541 (1.8045-1.8457)

View AUDGBP charts

The British Pound (GBP) is weaker across the board as Brexit headlines create further uncertainty in currency markets. Against the Australian Dollar (AUD) the Pound has extended last week’s moves from the low of 0.5340 (1.8720) to 0.5530 (1.8090) midday Friday. Next week’s Australian CPI and Retail Sales will be key to holding support and retest the 0.5570 (1.7960) area.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5515   GBPAUD 1.8133
The interbank range this week has been:AUDGBP 0.5371 – 0.5418-0.5529   GBPAUD 1.8087 – 1.8457

View AUDGBP charts

This cross is currently sitting around the 0.5451 mark and with the latest Brexit news once again pointing towards a “no deal” the AUD looks be dominate. However a loss in this weekend’s bye-election for the Wentworth seat in Sydney by the Liberals would see the ruling conservative party weakened and may result in the emergence of AUD selling pressure….should stay within existing ranges into next week.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5445   GBPAUD 1.8365
The interbank range this week has been:AUDGBP 0.5371 – 0.5460   GBPAUD 1.8317 – 1.8619

View AUDGBP charts

The Australian Dollar (AUD), British Pound (GBP) has pivoted around 0.5380 (1.8580) all week as Brexit news and UK data confuse investors. UK’s monthly GDP and manufacturing Production were both weaker with GDP at 0.0% with 0.1% growth expected and Manufacturing Production down at 0.2% from 0.1% markets were predicting. Brexit related news is still coming through thick and fast with May briefing her inner cabinet that a historic Brexit deal is close. NZ and UK CPI print next week and will hold key interest.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5380   GBPAUD 1.8587
The interbank range this week has been:AUDGBP 0.5339- 0.5435   GBPAUD 1.8398- 1.8730

View AUDGBP charts

Brexit news continues to knock the Australian Dollar (AUD), British Pound (GBP) to all corners with the pair reaching a low of 0.5370 (1.8615) last week at the close, a 19 June 2016 low. We have seen a shift higher Monday with pair travelled back to 0.5430 (1.8440) amid news that UK businesses are still anxious about Brexit. A recent British Chamber of Commerce survey revealed that services sector employers were holding off hiring new staff because of ongoing Brexit concerns. UK monthly GDP prints tomorrow and could give the Pound further stimulus to retest the low of 0.5370 (1.8615). Overall Brexit headlines will continue to hold key ongoing direction as a result is closer to being agreed.

Exchange Rates:
Current Level: 0.5409 (1.8487)
Resistance: 0.5460 (1.8620)
Support: 0.5370 (1.8310)
Last Week’s range: 0.5370-0.5550 (1.8018-1.8623)

View AUDGBP charts

This cross remains all about the ebb and flow of Brexit headlines. GBP data continues to be mildly supportive and a more positive outcome from the Conservative conference for PM May has seen the GBP strengthen over the last 2 days as the AUD comes under the pump against the USD. This has seen the AUD/GBP cross weaken currently around the 0.5434 level. Today’s Retail Sales may give some reprieve to the AUD, we look for the AUD to test support at 0.5400 into next week.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5435   GBPAUD 1.8400
The interbank range this week has been:AUDGBP 0.5429- 0.5554   GBPAUD 1.8006- 1.8419

View AUDGBP charts

Monday’s UK Manufacturing figures gave the Pound (GBP) an early boost against the Australian Dollar trading to (AUD) to 0.5510 (1.8150) but soon retraced back to the weekly open of 0.5543 (1.8040) Today’s RBA cash rate announcement will be watched closely but no surprises are expected in the statement. Friday’s Australian Retail Sales will be monitored closely after last month’s numbers were well down.

Exchange Rates:
Current Level: 0.5542 (1.8044)
Resistance: 0.5580 (1.8380)
Support: 0.5440 (1.7930)
Last Week’s Range: 0.5490 -0.5554 (1.8006-1.8215)

View AUDGBP charts

The British Pound (GBP) has continued to reverse last week’s losses against the Australian Dollar (AUD) from the high of 0.5570 (1.7950) retracing all the way back to trade at 0.5510 (1.8150) Friday. Trade talks are still weighing on the Aussie Dollar with a possible retest of 0.5430 (1.8400) possible especially if Brexit speak can offer further support for the Pound. Next week’s RBA cash rate announcement will see the rate unchanged at 1.5%.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5514   GBPAUD 1.8136
The interbank range this week has been:AUDGBP 0.5488 – 0.5576   GBPAUD 1.7933 – 1.8220

View AUDGBP charts

After a move to 0.5567 the AUD has retreated to the 0.5532 mark against the UK Pound (GBP), but with politics now in the Brexit mix, the AUD now looks better dressed than the GBP in this cross and should hold above the 0.5520 level over the next few days. Longer term we continue to favour the AUD backed by its better economic forecasts and look for a move over 0.5600 into next month.

Exchange Rates:
Current Level: 0.5533 (1.8074)
Resistance: 0.5690 (1.8518)
Support: 0.5400 (1.7575)
Last Week’s Range: 0.5448-0.5576 (1.7933-1.8357)

View AUDGBP charts

Solid performance for the AUD on this cross over the week climbing from 0.5435 to a high of 0.5537, now back around 0.5492 on the better UK retail sales data overnight. We expect more choppy trading as Brexit headlines dominate any UK economic releases, but look for move back towards 0.5450 early next week.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5489   GBPAUD 1.8219
The interbank range this week has been:AUDGBP 0.5435 – 0.5533   GBPAUD 1.8074 – 1.8400

View AUDGBP charts

The British Pound (GBP) trucks on and looks unstoppable against the declining Australian Dollar (AUD) as it looks to retest 0.5445 (1.8370). Key movers and announcements this week will be the RBA August Minutes along with UK yearly CPI figures and Retail Sales. Brexit is still throwing up daily headlines – the latest is a possibility that a no deal Brexit is at least possible unless Theresa May is prepared to relent to the demands of Brussels. The Irish border issue one of the major concerns still to be resolved. Massive support around 0.5400 (1.8500) going back to June 2016 is not far away, if any thread of a deal can be agreed we would see the pair travel well through these levels to possibly 0.5130 (1.9500) but this could be months away.

Exchange Rates:
Current Level:  0.5452 (1.8342)
Resistance: 0.5520 (1.8500)
Support: 0.5405 (1.8110)
Last Week’s range: 0.5435 – 0.5521 (1.812 – 1.8400)

View AUDGBP charts

The British Pound (GBP) still remains bullish over the Australian Dollar (AUD) this week. Australian Employment figures released Thursday took the Aussie off the low of 0.5445 (1.8360) to 0.5525 (1.8100) after data showed a boost to the number of employed people rose to 44,000 from the expected 16,500. The Bank of England (BoE) unanimously voted against a hike to the 0.75% cash rate bringing the Pound (GBP) back to 0.5485 (1.8230) Downside risk looks to be limited to long range support of 0.5400 (1.8500). BoC Governor Carney speaks tonight in Dublin.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5477   GBPAUD 1.8258
The interbank range this week has been:AUDGBP 0.5444- 0.5561   GBPAUD 1.7981- 1.8369

View AUDGBP charts

The British Pound (GBP) has surged during the overnight sessions against the Australian Dollar (AUD) after the chief EU Brexit negotiator said a Brexit deal realistically could be reached by November. At least the first stage of the Brexit treaty should be agreed within six to eight weeks. The pair slumped from 0.5503 (1.8170) to 0.5470 (1.8280) after the news  putting further pressure on the Australian Dollar (AUD) its fifth straight week of declines. In a heavy week of economic releases, the main events will be the BoE cash rate announcement with no change to the 0.75% expected and Australian Employment data, both Thursday. We are expecting further weakness in the Aussie with the April low of 0.5405 (1.8500) close to entering play.

Exchange Rates:
Current Level: 0.5450 (1.8350)
Resistance: 0.5490 (1.8500)
Support: 0.5400(1.8220)
Last Week’s Range:  0.5451 – 0.5624 (1.7781 – 1.8346)

View AUDGBP charts

We have seen a volatile week of trading for the AUDGBP cross with pretty decent range over the past 5 days. The UK Pound (GBP) continues to display its sensitivity to Brexit headlines and that’s exactly what drove some of this week’s choppy price action. We can expect more of the same until something definitive comes out of negotiations, however long that may take. In the meantime, it’s hard for us to get too negative on the pair from current levels. There is some support for the cross on any dips below 0.5050 and we expect that to continue over the coming week. Initial topside resistance comes in around 0.5625.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5566   GBPAUD 1.7966
The interbank range this week has been:AUDGBP 0.5536- 0.5624   GBPAUD 1.7781- 1.8064

View AUDGBP charts

A combination of Australian dollar (AUD) weakness and Pound Sterling (GBP) strength saw this pair collapse lower throughout last week. The AUDGBP cross traded to a low of 0.5539, but in the early stages of this week a recovery has developed with the pair now around the 0.5600 level. Today’s Reserve Bank of Australia (RBA) rate statement is the key focus and although no change in interest rates is expected, the tone of the rate statement will drive the AUD. After so much recent AUD selling it’s starting to feel like the market may be a touch short the Australian dollar and as such I would be surprised to see further significant losses in the near term. The sensitivity of the GBP to Brexit headlines however adds another level of uncertainty to this pair and as such we can expect plenty of volatility over the coming week.

Exchange Rates:
Current Level: 0.5601 (1.7855)
Resistance: 0.5650 (1.8050)
Support: 0.5540 (1.7699)
Last Week’s Range: 0.5539 – 0.5711 (1.7509 – 1.8053)

View AUDGBP charts

The Australian Dollar (AUD) opened the week around 0.5710 (1.7520) against the British Pound (GBP) but was soon under enormous pressure with fresh Brexit news boosting the Pound (GBP) across the board. The Australian Dollar slid sharply lower to 0.5575 (1.7940) a 12 July 2018 low.  Australian Private Capital Expenditure and Building Approvals fall well short of expectations giving a double header of negative selling interest in the Aussie Dollar. Prior support and the key physiological level of 1.8000 is on the radar now with a slew of Pound and Aussie economic data to print next week including the RBA cash rate announcement.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5576   GBPAUD 1.7933
The interbank range this week has been:AUDGBP 0.5569 – 0.5711   GBPAUD 1.7509 – 1.7956

View AUDGBP charts

The AUD has opened the week higher on this cross at 0.5707 as the increase in risk sentiment has favored the AUD and GBP volumes were low on the Monday bank holiday. Ongoing Aussie political jitters provide risk for the AUD but the same could be said for the GBP with Brexit negotiations no clearer even as they come down to the wire…a move back to the 0.5720 level is possible on this cross but with Brexit casting a big shadow over the GBP, movements should be fairly static over the week on this cross.

Exchange Rates:
Current level: 0.5698 (1.7550)
Resistance: 0.5750 (1.7700)
Support: 0.5650 (1.7400)
Last Week’s Range: 0.5652 -0.5741 (1.7420-1.7694)

View AUDGBP charts

The British Pound (GBP) has engulfed the Australian Dollar (AUD) this week with ongoing Australian political uncertainty. Malcolm Turnbull faces multiple leadership challenges from Peter Dutton and down the chain Bishop and Robertson. This behavior is fairly common in Australian Political law as we have seen before. This has kept the Aussie battling all week opening at 0.5720 (1.7420) relenting Friday to 0.5650 (1.7700) If Brexit can be agreed very soon we could see further support for the Pound and retest 0.5550 (1.8000) early June levels.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5656   GBPAUD 1.7680
The interbank range this week has been:AUDGBP 0.5652 – 0.5744   GBPAUD 1.7410 – 1.7694

View AUDGBP charts

The Australian Dollar (AUD) closed the week on a high after pushing back above 0.5765 (1.7350) against the British Pound (GBP) in choppy conditions. RBA monetary minutes release today to give us more insight into the RBA future plans. We have no first tier economic data to watch this week so any movement will be driven by any turns in the global risk environment. Official industrial production figures out of China missed market forecasts significantly and have weighed on the Aussie, without a trade settlement between China and the US the Aussie is capped to the topside in what could turn into a real battle between the two currencies in an already bouncy market.

Exchange Rates:
Current Level: 0.5728 (1.7458)
Resistance: 0.5780 (1.7660)
Support: 0.5660 (1.7300)
Last Week’s Range: 0.5665 – 0.5774

View AUDGBP charts

The British Pound (GBP) made a good start to the week trading to 0.5662 (1.7660) against the Australian Dollar (AUD) but has since given up gains. Positive UK data including unexpected unemployment figures of 4.00% from 4.2% expected boosted the Pound. Since Wednesday’s Aussie wage price index and particularly Thursday’s unemployment figures it has been all Aussie, travelling back to 0.5730 (1.7460) Australian Unemployment dropped unexpectedly to 5.30% from 5.40% rallying the Aussie and shifting it out of its recent bearish channel. RBA’s Lowe speaks today; we expect the normal recent rhetoric. Next week’s local data for the pair is light so we are not expecting much of a shift from current levels.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5720   GBPAUD 1.7482
The interbank range this week has been:AUDGBP 0.5665- 0.5747   GBPAUD 1.7400- 1.7652

View AUDGBP charts

A game of two halves is the best way to describe last week’s price movement in the British Pound and Australian Dollar (AUD) with a large V highlighting the action. Closing the week just shy of where it started at 0.5700 (1.7550). The Pound has reversed all of its losses from early last week with impressive data publishing. Manufacturing data printing above expectation along with risk averse markets sending the Aussie “risk” currency lower. Key market indicators are on the calendar later this week with UK unemployment, Aussie wage index and unemployment data along with key UK retail sales. If markets revert back to risk off sentiment we could see the Aussie weaken off regardless of data.

Exchange Rates:
Current Level: 0.5695 (1.7559)
Resistance: 0.5780 (1.7800)
Support: 0.5620 (1.7300)
Last Week’s Range: 0.5680 – 0.5785 (1.7285 – 1.7606)

View AUDGBP charts

The British Pound has been the weakest performing currency over the week with Brexit concerns weighing on market sentiment. The Australian Dollar (AUD) has not exactly been a currency of choice either this week but it has by steadily by default and picked up ground. With the cross breezing through resistance of 0.5670 (1.7630) it has continued to 0.5785 (1.7280). Trading just off this level midday Friday we suspect further GBP weakness is forecast. Could monthly UK Manufacturing production today and quarterly GDP offer some much needed anchor for the deteriorating Pound.?

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5745   GBPAUD 1.7407
The interbank range this week has been:AUDGBP 0.5656 – 0.5785   GBPAUD 1.7285 – 1.7681

View AUDGBP charts

A retest of 0.5670 (1.7630), as we mentioned in the previous commentary, came and went Friday with the British Pound (GBP), Australian Dollar (AUD) pushing much higher than we anticipated. GBP weakness was very evident once the pair breezed through 0.5670 (1.7630) on its way to 0.5715 (1.7500). Escalating trade conflicts between the US and China weighed on the Aussie Dollar even though a slightly better than expected Retail Sales number for June surprised markets. This week in focus is the RBA Interest Rate decision with a slight bearish tone expected.

Exchange Rates:
Current Level: 0.5707 (1.7522)
Resistance: 0.5750 (1.7970)
Support: 0.5565 (1.7400)
Last Week’s Range: 0.5612 -0.5712 (1.7500 – 1.7818)

View AUDGBP charts

Massive volatility around the (BoE) Bank of England announcement saw the Pound (GBP) and Australian Dollar (AUD) bounce from 0.5610 (1.7825) to 0.5665 (1.7650) and settle around 0.5660 (1.7680). The (BoE) Bank of England hiked their benchmark rate to 0.75% from 0.5% in a 9-0 vote with Carney stipulating this will be it for some time possibly until his departure next June but didn’t totally rule out another. If Aussie Retail Sales print positive today at 1.30pm we could see a retest of 0.5670 (1.7630).

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5653   GBPAUD 1.7690
The interbank range this week has been:AUDGBP 0.5612- 0.5669   GBPAUD 1.7640- 1.7818

View AUDGBP charts

The Australian Dollar (AUD) and the British Pound (GBP) remains choppy, camped in the band between 0.5660 (1.7680) and 0.5620 (1.7800) as it has been since mid June. This weeks (BoE) monetary policy statement and cash rate announcement will be the highlight of the week Thursday with the BoE expected to raise the benchmark cash rate to 0.75% from 0.50%. The voting is predicted to be 8-1 in favour of hiking, if it turns out different this will move the pair as it did with the last announcement. The pound in these early stages looks to be slightly bearish, hence our prediction we could see 0.5650 (1.7700) again this week.

Exchange Rates:
Current Level: 0.5645  (1.7715)
Resistance: 0.5670 (1.7800)
Support: 0.5620 (1.7630)
Last Week’s range: 0.5617 – 0.5656 (1.7680 – 1.7803)

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The British Pound (GBP) recovered off its high yesterday of 0.5660 (1.7680) against the Australian Dollar (AUD) and travelled to 0.5620 (1.7800) after worse than expected Australian CPI data disappointed markets. Brexit talks will continue to keep the Pound on the ropes. Next week we have the official cash rate on Thursday, expect the rate to be hikes to 0.75% and buyers to snap up the Pound.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5630  GBPAUD 1.7762
The interbank range this week has been:AUDGBP 0.5617 – 0.5671  GBPAUD 1.7632 – 1.7803

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The Australian Dollar (AUD) has broken key resistance against the depreciated British Pound (GBP) posting a fresh high of 0.5690 (1.7570) on weaker than expected Retail Sales and Inflation data. The Pound (GBP) recovering back to 0.5630 Tuesday with risk markets sitting out. We could see further downside in the cross to 0.5620 (1.7800) this week if risk averse conditions continue.

Exchange Rates:

Current Level: 0.5631 (0.7758)

Resistance:  0.5675 (1.7870)

Support: 0.5600 (1.7620)

Last Week’s Range:  0.5593 – 0.5688 (1.7581 – 1.7878)

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The AUD has had a good move on this cross after the better than expected Aussie employment figures, hitting a high of 0.0.5693. It is now back at 0.5660, but with the weaker UK data we look for more pressure to come on the GBP on this cross, look for another test of 0.5690 in the short term, which could target 0.5750 but given the weakening metal prices this may take some time.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5644   GBPAUD 1.7720
The interbank range this week has been:AUDGBP 0.5593 – 0.5688   GBPAUD 1.7581 – 1.7878

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Not much change in this cross over the last few days. Now around 0.5603 with little clear direction with the RBA minutes expected to show a softer trend this afternoon look for pressure to come on the AUD but with Brexit concerns still a GBP risk, support at 0.5565 should hold for the short term.

Exchange Rates:
Current Level: 0.5600 (1.7859)
Resistance: 0.5670 (1.7969)
support: 0.5565 (1.7636)
Last Week’s Range: 0.5574 – 0.5650 (1.7701 – 1.7940)

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This cross is now around 0.5626 after a range over the week of 0.5575-0.5661 on a mildly stronger shift to risk and good Chinese trade data this afternoon may help reinforce this move. However if commodity prices remain weak into next week the AUD may go back to test the weeks lows at the 0.5575 mark…

Exchange Rates:
The current interbank midrate is:AUDGBP 0.5619   GBPAUD 1.7796
The interbank range this week has been:AUDGBP 0.5574- 0.5658   GBPAUD 1.7674- 1.7940

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Choppy trading in this cross as the Brexit news continues to create volatility for the GBP…has been in a 0.5661-0.5583 range over the last 24 hours and currently back around 0.5643 ahead of the Aussie business confidence data and Chinese inflation figures….given the current UK political turmoil we favour the AUD on this cross and look for a further test of the 0.5660 level over the next day or so…

Exchange Rates:
Current Level: 0.5640 (1.7730)
Resistance: 0.5670 (1.7969)
Support: 0.5565 (1.7636)
Last Week’s Range: 0.5569 – 0.5658 (1.7674 – 1.7957)

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The Australian Dollar (AUD) hasn’t moved far from 0.5585 (1.7900) against the British Pound over the past two days. Aussie Building approvals disappointed coming in at -3.2% based on 0.1% markets were expecting, depreciating the Aussie earlier in the week. The RBA statement was largely based on rhetoric of late with no real surprises. Retail Sales published up on market expectations of 0.3% to 0.4% with department stores leading the rise with clothing, footwear and personal accessories rising 2.2% pushing the cross to 0.5600 (1.7860)

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5590   GBPAUD 1.7890
The interbank range this week has been:AUDGBP 0.5569 – 0.5637   GBPAUD 1.7740 – 1.7957

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Large swings in the Australian Dollar (AUD), British Pound cross continued last week with the high of 0.5640 (1.7720) and the low of 0.5580 (1.7940) representing a lack of volatility and economic data. Australian Building approvals disappointed coming in at -3.2% based on 0.1% markets were expecting, depreciating the Aussie. The RBA statement was largely based on rhetoric of late with no real surprises the Aussie Dollar held its ground. UK Construction was positive and took the pair from 0.5615 (1.7810) to 0.5600 (1.7860) with Australian Retail Sales to publish later today. Buyers of GBP may get a bounce higher soon as we expect prices to improve back toward 0.5750 (1.7400) in the medium term.

Exchange Rates:
Current Level: 0.5603 (1.7848)
Resistance: 0.5635 (1.7950)
Support: 0.5570 (1.7750)
Last Week’s Range: 0.5571 – 0.5637 (1.7740 – 1.7949)

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Surprisingly, the British Pound (GBP) has had the better of the Australian Dollar (AUD) since Wednesday pushing back to 0.5620 (1.7770) after reaching a low of 0.5570 (1.7950). With absolutely no economic data publishing between the two economies movement has been driven by Bank of England (BoE) speakers Haskel and governor Carney where he said “global risks could crystallize longstanding risks of a snapback in interest rates”. Markets look now to UK quarterly Current Account releasing tonight. Technically Fibonacci levels have been key in this pair since mid-April 2018 and shows further decline in the Pound (GBP) to 0.5665 (1.7650).

Exchange Rates:
The current interbank midrate is:AUDGBP 0.5619   GBPAUD 1.7796
The interbank range this week has been:AUDGBP 0.5568- 0.5628   GBPAUD 1.77690- 1.7959

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We have a light calendar this week for the Australian Dollar (AUD), British Pound (GBP) pair. The Bank of England (BoE) Carney will speak tonight about financial stability and later in the week we await the UK current Account. The pair remains choppy but looks to be making a move back to last week’s 0.5560 (1.7980), the six week low. The Aussie Dollar will be guided largely by offshore moves this week, intl trade discussions will no doubt continue to add volatility. We suspect as GBP gathers further support we will see 0.5420 (1.8460) broken.

Exchange Rates:
Current Level: 0.5581 (1.7918)
Resistance: 0.5620 (1.8100)
Support: 0.5525 (1.7800)
Last Week’s Range: 0.5565- 0.5629

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The Australian Dollar (AUD) continues to lose ground against the British Pound (GBP) as the Bank of England left rates on hold. The pair has continued its downward bias from the high of 0.5750 (1.7400) of early June to trade at 0.5570 (1.7950) Friday. The BoE voting surprised the market when it came in at 6-3 suggesting a rate rise could be earlier than expected. Andy Haldane voted to raise the cash price, an important and respected man in the Bank of England sending an important signal to markets. The Bank of England Current Account is published next Friday.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5570   GBPAUD 1.7952
The interbank range this week has been:AUDGBP 0.5565 – 0.5644   GBPAUD 1.7718 – 1.7970

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The Australian Dollar has continued its decline this week dropping to a low of 0.5605 (1.7840) the lowest recorded level for June. This represents a reasonable shift in momentum since the 5th of June trading price of 0.5750 (1.7390) evident as to buyers preferring the safer Pound. The RBA Minutes today should reaffirm recent positive data and a gradual path to improved growth with the Bank of England releasing their official Cash rate Thursday with markets expecting no change to the current 0.5%. The voting should represent a 7-2 against a change with 6-3 also possible. They may signal an increase in the cash rate in their August meeting. 0.5555 (1.8000) is the next target for the Australian Dollar.

Exchange Rates:
Current Level: 0.5590 (1.7890)
Resistance: 0.5650 (1.8090)
Support: 0.5530 (1.7713)
Last Week’s Range: 0.5581 -0.5703 (1.7535-1.7919)

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The British Pound (GBP) has pushed higher against the Australian Dollar (AUD) to 0.5630 (1.7750) after Brexit concerns dampen Pound spirits. Brexit woes has bought on further anxiety with the rejection of the meaningful vote amendment from to pro EU lawmakers, The news dropped the GBP against the US Dollar (USD) but remained steady against the Aussie. UK Retail Sales published at 1.3% up on the 0.5% expected taking the price from 0.5675 (1.7620) to 0.5633 (1.7750). Next week is the RBA Minutes which should reaffirm recent positive data and a gradual path to improved growth. Long term decline of the Pound was halted this week when price moved below 0.5660 (1.7680) – this week will determine if fresh momentum to the downside will eventuate. UK cash rate is published and is expected to remain unchanged at 0.5%

Exchange Rates:
The current interbank midrate is:AUDGBP 0.5628   GBPAUD 1.7768
The interbank range this week has been:AUDGBP 0.5622- 0.5703   GBPAUD 1.7535- 1.7788

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The British Pound (GBP) bounced off 0.5750 (1.7390) travelling to 0.5640 (1.7730) in light trading conditions with the Australian Holiday Monday. Weaker data last night with Manufacturing Goods and Trade Balance were both off the mark dropping the Pound back towards 0.5700 (1.7550). Later in the week we have Australian Unemployment figures to publish with a lower reading than May’s 5.6% expected. Market volumes will be light until Kim Jong-un and Donald Trump take centre stage in Singapore at 1pm NZT. Looking forward we think the bullish momentum seen since late April will continue to 0.5850 (1.7100) over the coming weeks.

Exchange Rates:
Current Level: 0.5680 (1.7605)
Resistance: 0.5750 (1.7730)
Support: 0.5640 (1.7400)
Last Week’s Range: 0.5640 – 0.5744 (1.7410 – 1.7731)

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The British Pound (GBP) carried over last week’s momentum trading to 0.5740 (1.7410) against the Australian Dollar (AUD) a fresh high not seen since late January .  Better than expected UK data bought the Pound (GBP) back in favour after Construction PMI, Services PMI and Halifax PMI all posted solid results. Australian quarterly Gross Domestic Product also released positive news highlighting an economy accelerating faster than expected with figures of 1% instead of the predicted 0.9%, a retracement followed back to 0.5675 (1.7620) but for now the bullish channel is still in play from the low of 0.5410 (1.8480) of 26 AprilMonday is an Australian bank holiday.

Exchange Rates:
The current interbank midrate is:AUDGBP 0.5677   GBPAUD 1.7616
The interbank range this week has been:AUDGBP 0.5653 – 0.5749

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The British Pound has depreciated further from the high of 0.5415 (1.8470) – 27th April, losing further ground to 0.5700 (1.7560) against a favored Australian Dollar (AUD). UK data has seen Net Lending to Individuals improve to 5.7B over an expected 5.2B but with expectation of no hike in 2018 for the BoE (Bank of England), weakness continues. UK Manufacturing is published tonight just prior to the US Non-Farm Payroll numbers, expect volatility. Buyers of GBP should consider here through to 0.5815 (1.7200) resistance.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5696   GBPAUD 1.7556
The interbank range this week has been:AUDGBP 0.5643 – 0.5706   GBPAUD 1.7526 – 1.7721

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The British Pound has depreciated further for the fifth straight week against the Australian Dollar (AUD) trading to 0.5670 (1.7630) as investors preferred the Aussie over the dysfunctional Pound. The pair has not retracted back to 0.5630 (1.7750) as we thought it would last week instead extending gains. UK Prelim Business Investment printed down at -0.2% after 0.2% was expected with business investment estimated to have fallen by 46.1B between fourth quarter 2017 and first quarter 2018. This represents a significant shift and could weigh on sentiment for a while. Manufacturing PMI is released on Friday just prior to US Non-Farm Payroll figures.

Exchange Rates:

Current Level: 0.5650 (1.7762)

Resistance:  0.5685 (1.7800)

Support: 0.5620 (1.7590)

Last week’s Range: 0.5621 – 0.5685 (1.7589 – 1.7791)

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The Australian Dollar has continued to make gains on the British Pound (GBP) this week extending momentum over the past three weeks to 0.5665 (1.7650). Carney made comment that rates would rise gradually over the next 3 years. Chances of a rise in the cash rate for August has deteriorated below 50% probability. RBA governor Lowe spoke Wednesday night and highlighted debt risks facing China since the GFC of 2008 and how they could impact on the Australian economy given the strong trading relationships the two countries have. We suspect the GBP may retrace back to 0.5630 (1.7750) over the coming days.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5661   GBPAUD 1.7666
The interbank range this week has been:AUDGBP 0.5556 – 0.5666   GBPAUD 1.7648 – 1.7998

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The Australian Dollar (AUD) has finally broken through tough resistance of 0.5585 (1.7900) this week against the British Pound after bouncing off this area numerous times over the past three weeks. It has appreciated to 0.5650 (1.7700) a two month high. A slew of UK based economic news is to release this week along with BoE governor Carney speaking three times. Expect to see some shifts in prices with a possible look at 1.7600 early March resistance.

Exchange Rates:

Current Level: 0.5645 (1.7715)

Resistance: 0.5680 (1.8180)

Support: 0.5580 (1.7600)

Last Week’s Range: 0.6294 – 0.6438 (1.7697 – 1.8108)

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The Australian Dollar (AUD) British Pound (GBP) cross has traded around the 1.8000 level all week with little enthusiasm to jump from current ranges. Australian Wage price Index was slightly below expectations at 0.5% from 0.6% suggesting similar levels over the last 6 quarters with again no real wage price growth, this will be starting to worry the RBA who need these figures to be better to assist with lifting inflationary pressures. Big resistance still sits at 0.5585 (1.7900) with the Pound still looking bullish back to 0.5400 (1.8500).

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5555   GBPAUD 1.8001

The interbank range this week has been:AUDGBP 0.5522- 0.5584   GBPAUD 1.7909- 1.8108

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The Bank of England left their benchmark cash rate unchanged at 0.50% in a 2-7 vote as markets expected, the market seeing the BoE comments as generally dovish after pricing out a rate hike for 2018 sending the GBP lower to 0.5586 (1.7900) against the Australian Dollar (AUD). The Pound has recovered slightly Tuesdayto 1.8000 and should trade back to 0.5400 (1.8500) soon. UK unemployment figures release later today and should be in line with expectation boosting GBP further.

Exchange Rates:

Current Level: 0.5545 (1.8034)

Resistance:  0.5582 (1.8230)

Support: 0.5485 (1.7912)

Last Week’s Range:  0.5482 – 0.5584 (1.7909-1.8241)

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After we made comment earlier in the week the Pound (GBP) had retraced off the high 0.5580 (1.7930) it is trading back there Friday against the Australian Dollar (AUD). Midweek it traded as low as 0.5485 (1.8230) until the Bank of England Cash rate announcement was released. The Bank of England left their benchmark cash rate unchanged at 0.50% in a 2-7 vote as markets expected but the market saw the BoE comments as generally dovish after pricing out a rate hike for 2018. We see momentum still with the GBP with the pair aiming to retest the prior low of 0.5400 (1.8505) over the coming weeks. Buyers of Pound (GBP) should consider at current levels.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5561   GBPAUD 1.7982

The interbank range this week has been:AUDGBP 0.5482- 0.5580   GBPAUD 1.7922- 1.8241

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After three weeks of bullish movement the AUD/GBP pair looks to have finally retraced off the high of 0.5580 (1.7930) early this week to trade at 0.5540 (1.8050). This represents a significant move in the right direction for the Aussie Dollar (AUD) and suggests a turnaround in fortunes based on recent favourable data releases. NAB business confidence was up on expectation, although retail sales released in the past hour has disappointed. The Bank of England won’t hike rates later in the week sighting recent disappointing data with economists suggesting further hikes won’t be seen until well into 2020. Either way the announcement will move the pair, we suggest prices should continue towards 0.5520 (1.8100) in the short term after the choppiness over the announcement.

Exchange Rates:

Current Level: 0.5530  (1.8083)

Resistance: 0.5577 (1.8160)

Support: 0.5506 (1.7930)

Last Week’s Range: 0.5468 – 0.5573 (1.7944 -1.8289)

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The British Pound (GBP) has eased off over the week against a resilient Australian Dollar (AUD). Shaking off resistance of 0.5500 (1.8170) it has pushed higher to trade around 0.5550 (1.8020) midday Friday. UK Services PMI published lower than expected at 52.8 from 53.8 surprising markets. Potential UK rate hikes seem to have been put on hold for a while longer after weaker Manufacturing data earlier in the week has added to concerns of growth. Next week’s Bank of England (BoE) cash rate and monetary statement will be watched with interest. The pair currently looks overbought, with resistance at 0.5585 (1.7900) looming I suspect a reversal back towards 0.5525 (1.8100) could be on.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5556   GBPAUD 1.8000

The interbank range this week has been:AUDGBP 0.5416- 0.5554   GBPAUD 1.8004- 1.8465

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The British Pound (GBP) suffered Friday falling away sharply against the Australian Dollar (AUD). Preliminary UK GDP disappointed publishing well down at 0.1% for the first quarter of 2018 after 0.3% growth was expected. This was after positive figures published in the fourth quarter 2018. In repeat pattern from the previous week the pair saw choppy conditions trading to a high of 0.5515 (1.8130) before reversing back to 0.5470 (1.8280) Tuesday. The RBA statement and cash rate is today but I suspect won’t offer much for the Aussie with the pair expected to retest the bottom of the current range at 0.5420 (1.8450)

Exchange Rates:

Current Level: 0.5477 (1.8258)

Resistance:0.5500 (1.8470)

Support: 0.5415 (1.8160)

Last Week’s Range: 0.5415 – 0.5503 (1.5970 – 1.6140)

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The Australian dollar has continued to drift lower against the GBP over the week from 0.5483 to an overnight low of 0.5413. It has opened at 0.5430 but we look for support down at 0.5400 to be tested over the next week. Immediate resistance at 0.5504 unlikely to be seen over the next few days, but as always with the GBP, Brexit news will continue to influence.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5428   GBPAUD 1.8423

The interbank range this week has been:AUDGBP 0.5415 – 0.5493   GBPAUD 1.8206 – 1.8467

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The British Pound (GBP) lost all support midweek against the Australian Dollar (AUD) after poor UK data published. The pair has been choppy with a busy week of economic releases. UK unemployment rate came in better than expected Tuesday night at 4.2% based on expectation of 4.3% but it was the only good news for the Pound (GBP) as it has struggled since to stay above 0.5450 (1.8350). With Retail Sales and CPI printing poor the Pound (GBP) had no relief when Brexit exit woos came back to taunt the Pound. Monetary Policy Committee member Saunders speaks tonight and could offer optimism back into the Pound.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5480GBPAUD 1.8248

The interbank range this week has been:AUDGBP 0.5412- 0.5502GBPAUD 1.8186- 1.8477

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The British Pound (GBP), Australian Dollar (AUD) pair, looks to be making a surge for 0.5405 (1.8500) as it trades at 0.5430 (1.8420) currently. UK unemployment rate prints tonight, yearly CPI tomorrow and Retail Sales Thursday should offer further upside for the Pound. Opportunities for the Aussie to trade back to mid-2017 levels of 0.6270 (1.5950) are fading. The long term physiological level of 2.000 looks more likely as things look increasingly positive for the UK economy.

Exchange Rates:

Current Level: 0.5418 (1.8458)

Resistance: 0.5555 (1.8900)

Support: 0.5290 (1.8000)

Last Week’s Range: 0.5419 – 0.5483 (1.8239 – 1.8453)

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The British Pound (GBP) remains well supported around current levels against the Australian Dollar (AUD) currently trading around the weekly open price of 0.5452 (1.8340). Momentum lies with the Pound with Brexit negotiations going well and the Bank of England (BoE) confirming they will hike rates at some point over the coming months. The RBA in contrast makes no fuss to do the same. Opportunities for the Aussie to get back to mid-2017 levels of 0.6270 (1.5950) are fading. The magical long term physiological level of 2.000 looks more likely as things develop.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5453   GBPAUD 1.8339

The interbank range this week has been:AUDGBP 0.5418 – 0.5489   GBPAUD 1.8217 – 1.8458

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The British Pound (GBP) has been well supported over the last few days pushing to a low of 0.5420 (1.8460) against a struggling Australian Dollar (AUD). Breaking from its recent range through 0.5450 (1.8340) the Pound (GBP) has been the better performer not just against the Aussie but across the board. A negative bias remains for the Australian Dollar (AUD) with recent news of China set to potentially devalue the CNY prompting fresh nervousness. The Australian economy relies on China for trade of products such as iron ore. Devaluing the Yuan is in direct impact of countering the US-China trade disputes. Buyers of GBP should consider at current levels.

Exchange Rates:

Current level: 0.5465 (1.8298)

Resistance: 0.5503 (1.8500)

support:0.5405 (1.8170)

Last Week’s Range: 0.5418 -0.5500 (1.8183-1.8458)

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The British Pound (GBP) has lost momentum against the Australian Dollar (AUD) over the past few days as news favoured the Aussie Dollar (AUD). The RBA left rates on hold but comments leaned towards a dovish outlook. Australian Retail Sales printed better than expected with 0.6% as opposed to 0.3%, pushing the pair to 0.5503 (1.8170), UK Construction printed down at 47.0 on the forecasted 50.9 and the Aussie Trade Balance was positive, continuing the momentum for the Aussie (AUD) Friday to 0.5488 (1.8220). We expect further support for the GBP next week as long as Brexit Irish border plans are sorted.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5485   GBPAUD 1.8231

The interbank range this week has been:AUDGBP 0.5445- 0.5500   GBPAUD 1.8183- 1.8365

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The Australian Dollar (AUD) pulled back ground last week against a buoyant British Pound (GBP) closing the week at 0.5485 (1.8230) up on the previous weeks close of 0.5445 (1.8365). UK Current Account published at -18.4B as opposed to the expected -24.0B expectation, this was the lowest since 2011, citing rising earnings from investments and higher foreign levels of investment in the UK. The RBA release their Cash Rate Tuesday which is expected to stay unchanged at 1.5% with a 0% probability of a rise. Monthly Australian Retail Sales and Trade Balance publish later in the week, look for a break back to the late March low of 0.5390 (1.8550) if the Aussie loses further support.

Exchange Rates:

Current Level: 0.5465 (1.82)

Resistance: 0.5490 ( 1.8500)

Support: 0.5405 ( 1.8210)

Last Week’s Range: 0.6177 – 0.6255 ( 1.8220 – 1.8506)

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The Australian Dollar (AUD) continues to weaken off against the British Pound (GBP). Last week the pair dropped through key support of 0.5555 (1.8000) with ease in heavy traded markets and has continued this momentum well into this week posting a new multi year low of 0.5443 (1.8370). UK Current Account is published Thursday with expectation of a -23.B slightly worse than Dec 22 figure. Direction from here should continue to the downside for a while with Brexit still driving the GBP.

Exchange Rates:

Current Level: 0.5445 (1.8365)

Resistance: 0.5578 ( 1.9420)

Support: 0.5150 ( 1.7925)

Last Week’s Range: 0.5422 – 0.5509 ( 1.8151 – 1.8444)

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The Australian Dollar (AUD) has been the worst performer in the G10 group posting further losses against the pound (GBP) in busy markets. Breaking from its range earlier in the week it has fallen to 0.5465 (1.8300). The yearly high being 0.6290 (1.5900). With monthly Retail Sales on the rise and Unemployment down to 4.3% from 4.4% we should see the pound (GBP) push through its pre- Brexit level of 0.5155 (1.9400) soon. The BoE will almost certainly hike rates in May.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5455   GBPAUD 1.8331

The interbank range this week has been:AUDGBP 0.5438 – 0.5597   GBPAUD 1.7868 – 1.8389

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The Australian Dollar (AUD) has continued to weaken against the British Pound (GBP) pushing past the support area at 0.5555 (1.8000) it has finally broken out of its range and pushed back to post- Brexit levels, it still has a way to go to trade back at the pre-Brexit level of 0.5075 (1.9700). The Bank of England will keep the cash rate on hold for a while longer Friday but may give hints to further hikes in the following statement. The Pound has a busy week with other significant announcements such as Retail Sales and CPI- significant further movement is expected this week. Buyers of GBP should consider a surging GBP with current levels around 0.5500 (1.8180)

Exchange Rates:

Current Level: 0.5495 (1.8198)

Resistance: 0.5682 (1.9000)

Support: 0.5263 (1.7600)

Last Week’s Range: 0.5478 – 0.5673 (1.7626 – 1.8255)

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The Australian Dollar (AUD) has reversed last weeks gains from the high of 0.5670 (1.7630) against the Pound (GBP) trading lower through 0.5610 (1.7820) support as it looks to push aside key support of 0.5600 (.7870) and break lower. The pair AUD/GBP has not traded at these levels since Brexit in June 2016. It’s a busy week coming with a slew of important economic data to release including the Bank of England (BOE) official cash rate and Australian unemployment figures. I would expect the GBP to continue to put pressure on the Australian Dollar (AUD) with thin air through to 0.5130 if the Pound improves.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5590  GBPAUD 1.7889

The interbank range this week has been:AUDGBP 0.5583- 0.5682   GBPAUD 1.7600- 1.7910

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The Australian Dollar (AUD) continued its run against the British Pound (GBP) Friday rallying through to 0.5670 (1.7632) late in the NY trading session. As the US Dollar slipped out of favour in a risk on market Friday stemming from news of progress with trade tariffs, the markets bought the Australian Dollar (AUD) finishing the week on its high. Earlier this week the GBP has made a comeback reversing some of last week’s losses pushing the pair back to 0.5660 (1.7670). The RBA assistant governor Bullock speaks later today on matters around interest rates and the general state of the Australian economy the only economic release this week of note.

Exchange Rates:

Current Level: 0.5671 (1.7633)

Resistance: 0.5682 (1.7850)

Support:0.5600 (1.7600)

Last Week’s Range:0.5593 – 0.5682 (1.7600-1.7878)

View AUDGBP charts

The Australian Dollar (AUD) has had the edge against the Great British Pound (GBP) over the past few days based on Brexit concerns and a soft UK House Price Index. The AUDGBP has traded through the resistance area of 0.5650 (1.7700) to post a new weekly high as it targets 0.5660 (1.7665) and longer term 0.5700 (1.7550). The upcoming week will be quiet for Australian economic releases, but busy with further Brexit negotiations and the UK Budget.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5640   GBPAUD 1.7730

The interbank range this week has been:AUDGBP 0.5593- 0.5647   GBPAUD 1.7708- 1.7878

View AUDGBP charts

The Australian Dollar (AUD) has weakened against the British Pound (GBP) with the Pound looking unstable across the board with ongoing Brexit concerns. Tuesday saw the AUDGBP trade to a low of 0.5587 (1.7900) after Services PMI was published showing moderate expansion and positivity among businesses surveyed. The pair travelled back towards Mondays open soon after, perhaps market makers are expecting a hawkish tone during today’s Cash Rate and statement by the RBA. They will certainly keep the rate unchanged at 1.5% after suggesting in earlier comments they would prefer a softly softly approach to 2018.

Exchange Rates:

Current Level: 0.5620 (1.7793)

Resistance: 0.5630 (1.7900)

Support: 0.5586 (1.7750)

Last Week’s Range: 0.5598 – 0.5659 (1.7672 – 1.7864)

View AUDGBP charts

The Australian Dollar (AUD) made strong gains against the British Pound (GBP) over previous days as Brexit talks dampen the mood of the Pound. At one point trading up to 0.5665 (1.7650) in volatile markets after the EU Brexit report hit the wires. The Australian Dollar then lost its momentum during local trading Thursday as the quarterly Private Capital Expenditure was released worse than expected knocking it down to 0.5620 (1.7800). Prime Minister Theresa May speaks Friday, expect the AUD/GBP currency pair to bounce around heading into the weekend.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5630   GBPAUD 1.7762

The interbank range this week has been:AUDGBP 0.5584- 0.5659   GBPAUD 1.7672- 1.7909

View AUDGBP charts

The Australian Dollar (AUD) Great British Pound (GBP) pair continued its choppy run of late, trading as low as 0.5586 (1.7900) Friday and again through Monday it retraced lower to 0.5633 (1.7750) during BoE Ramsden’s speech around Interest rates. Hinting of faster recovery than markets expect he underlined the need to hike rates possibly quicker than forecasted. The Pound has stabalised early Tuesday around the (0.5624) 1.7780, Manufacturing PMI is released Thursday to offer further GBP direction. Technically the paid is still in a bearish cycle from the high of (0.5850) 1.7100 we may see further Pound strength in the short to medium term.

Exchange Rates:

Current Level:0.5625 (1.7777)

Resistance: 0.5637 (1.7910)

Support:0.5583 (1.7740)

Last Week’s Range:0.5584 – 0.5678 (1.7611 – 1.7909)

View AUDGBP charts

The Australian Dollar (AUD) Great British Pound (GBP) pair continues to trade lower, the Sterling still well supported against the Aussie Dollar. Trading through the previous high Thursday of 0.5608 (1.7830) it currently trades at the fortnight high around 0.5615 (1.7809) levels. Friday nights GDP quarterly “second estimate” will be a good gauge of how the economy rolls over the medium term. Key resistance still seen at 0.5680 (1.7600)

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5618   GBPAUD 1.7799

The interbank range this week has been:AUDGBP 0.5603- 0.5678   GBPAUD 1.7611- 1.7849

View AUDGBP charts

The Australian Dollar (AUD) – Great British Pound (GBP) has been “bouncy” over the week, closing business at where it started around 0.5643 (1.7723) level. Earlier price action hit 0.5680 (1.7605) mid- term support as mentioned in an earlier commentary but rebounded to 0.5620 (1.7807) the low before the Australian Dollar gained support closing in a confident tone. BoE speak tomorrow with Inflation Report Hearing later in the week should give the pound further stability.

Exchange Rates:

Current Level: 0.5650 (1.7700)

Resistance: 0.5665 (1.7795)

Support:0.5620 (1.7652)

Last Week’s Range: 0.5621 -0.5689 (1.7577 – 1.7792)

View AUDGBP charts

The Australian dollar-Great British Pound (AUD/GBP) has been locked between a tight range this week trading between 0.5630 (1.7760) and 0.5682 (1.7600). Both the British Pound (GBP) and the Australian Dollar (AUD) have profited against the USD this week but the AUD/GBP remains around 0.5665 (1.7650) levels early Friday. With both economies ticking along well it will be interesting to see how this pair performs over the coming months. I am picking GBP to trade to support line of 0.5680 (1.7605) in the medium term based on current trend.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5632  GBPAUD 1.7755

The interbank range this week has been:AUDGBP 0.5621- 0.5689   GBPAUD 1.7577- 1.7792

View AUDGBP charts

The Australian dollar (AUD) profited from the risk on market late Friday and it remained bid heading into the close at 0.5653 (1.7695) vs the UK Pound (GBP). It has started the week continuing the positive mood trading through resistance of 0.5680 (1.7600). We look for further upside price action in the coming days.

Exchange Rates:

AUDGBP

Current Level: 0.5673

Support: 0.5605

Resistance: 0.5700

Last Week’s range: 0.5571 – 0.5682

GBPAUD

Current level: 1.7626

Support: 1.7550

Resistance: 1.7840

Last Week’s Range: 1.7599 – 1.7949

View AUDGBP charts

The Australian Dollar (AUD) lost ground against the UK Pound (GBP) over the week. Starting the week at 0.5600 it traded through to 0.5675 before being sold off to a new low of 0.5550. We need to go back to June 2016 to see this level. The Australian Dollar has recovered late in the week but still looks under pressure.

 

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5597   GBPAUD 1.7865

The interbank range this week has been:AUDGBP 0.5571 – 0.5677   GBPAUD 1.7614 – 1.7949

View AUDGBP charts

The Australian dollar (AUD) opens lower against the UK Pound at 0.5602 after a drop late last week from 0.5681 to 0.5612. This was mainly on the back of both currencies reaction to the USD strength which has knocked the AUD harder than GBP. Brexit woes remain for the GBP, but good data on Thursday may help the UK pound.  Overall we still favour the AUD but 0.5600 needs to hold if another attempt to push over 0.5700 towards a target 0.5800 is to remain viable

Exchange Rates:

AUDGBP 

Current Level: 0.5608

Support: 0.5600

Resistance: 0.5800

Last Week’s Range: 0.5600 – 0.5762

GBPAUD

Current Level: 1.7831

Support: 1.7242

Resistance: 1.7857

Last Week’s Range: 1.7354 – 1.7857

View AUDGBP charts

A choppy day yesterday saw the AUD/GBP range between 0.5674-0.5736 on the lower than expected CPI number. Now at 0.5671 and should hold current levels heading into the weekend. However, given the ever present Brexit overhang we favour the AUD on this cross and with commodity prices holding continue to look for another push to the 0.5800 resistance level over the next week.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5669   GBPAUD 1.7639

The interbank range this week has been:AUDGBP 0.5644 – 0.5762   GBPAUD 1.7354 – 1.7718

View AUDGBP charts

The Australian dollar (AUD) opens firmer at 0.5758 as the GBP has been hit by rumours around a confidence vote for PM May by her party. Expect trading to hang around current levels into tomorrow’s Australian CPI data, which if good would see a push back to the 0.5800 level. Further weakness by the GBP against the USD would see elevated levels of the AUD on this cross. More AUD/GBP updates here.

Exchange Rates:

AUDGBP 

Current Level: 0.5754

Support: 0.5635

Resistance: 0.5800

Last Week’s Range: 0.5644 – 0.5762

GBPAUD

Current Level: 1.7379

Support: 1.7242

Resistance: 1.7746

Last Week’s Range:  1.7354 – 1.7718

View AUDGBP charts

The AUD continues to weaken against the UK Pound (GBP) as news from the UK both economically and Brexit wise continues to be GBP supportive. After a low at 0.5645, the lowest level since December 12th, the AUD is now around 0.5680 and we favour a test of the 0.5630/40  next week if the GBP continues to hold firm around the 1.4150 level against the USD

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5679   GBPAUD 1.7610

The interbank range this week has been:AUDGBP 0.5644 – 0.5782   GBPAUD 1.7296 – 1.7718

View AUDGBP charts

The AUD has weakened on this cross as the UK Pound (GBP) has garnered strength from the more positive news around the “soft” Brexit potential along with the chance of a trade deal with the EU. However, this remains to be a “done deal” and there will be many twists in the tail before this is likely to occur. This AUD/GBP cross is now around 0.5730 with immediate support at 0.5720 then 0.5700. A move by the GBP over 1.40 against the USD would pressure this cross.

Exchange Rates:

AUD/GBP

Current Level: 0.5726

Support: 0.5700

Resistance: 0.5870

Last Week’s Range: 0.5725 – 0.5787

GBP/AUD

Current Level: 1.7463

Support: 1.7035

Resistance: 1.7543

Last Week’s Range: 1.7281 – 1.7468

View AUDGBP charts

Remains directionless, trading now around 0.5768, the more solid data from Aussie has helped hold this cross and while good UK figures tonight may pressure the AUD on this cross, we favour the AUD for a move back to the 0.5810 and above, into next week.

Exchange Rates:

The current interbank midrate is: AUDGBP 0.6535   GBPAUD 1.7360

The interbank range this week has been: AUDGBP 0.5741 – 0.5822   GBPAUD 1.7176 – 1.7417

View AUDGBP charts

Some choppy trading on this cross over the last few days as this cross has ranged between 0.5738/0.5849, now around 0.5770 after a better day for the GBP after the news about potential for a softer Brexit. Given the better data expected from Australia we continue to look for moves back above the 0.5840 level over the next few days.

Exchange Rates:

AUD/GBP

Current Level: 0.5774

Support: 0.5740

Resistance: 0.5870

Last Week’s Range: 0.5741 – 0.5848

GBP/AUD

Current Level:  1.7318 

Support: 1.7035

Resistance: 1.7421

Last Week’s Range: 1.7100 – 1.7417

View AUDGBP charts

After opening the week around the 0.5770 mark the AUD has strengthened against the UK Pound (GBP) over the last few days, surging significantly higher to 0.5849 on yesterday’s stellar retail sales figures. Now back around 0.5822 we favour a move back over 0.5840 as Brexit woes continue to create inherent weakness for the GBP.

Exchange Rates:

The current interbank midrate is:AUDGBP 0.5819    GBPAUD 1.7184

The interbank range this week has been:AUDGBP 0.5770 – 0.5848    GBPAUD 1.7100 – 1.7331

View AUDGBP charts

The UK Pound (GBP) has gradually drifted lower against the AUD over the last week with the AUD/GBP rate ranging between 0.5742-0.5810 over that period. Now at 0.5786 price action looks to be unclear in a sideways pattern. A break of 0.5820 would be positive for the AUD on this cross with a move then expected to the 0.5840 level, but with little major data out over this week, expect consolidation at current levels to continue.

Exchange Rates:

AUDGBP 

Current Level: 0.5789

Support: 0.5600

Resistance: 0.5840

Last Week’s Range: 0.5742 – 0.5809

GBPAUD 

Current Level: 1.7275

Support: 1.7123

Resistance: 1.7857

Last Week’s Range: 1.7216 – 1.7415

View AUDGBP charts

The UK Pound (GBP) completely outperformed the AUD in the first half of the week, driving the pair to a 0.5742 low (1.7415 high). Since then however we have seen a dramatic turn around with the Australian dollar leading the way, and that’s seen the cross rate recover back toward recent highs around 0.5809 (lows 1.7216). There hasn’t been much in the way of market moving data from Australia, while from the UK the trifecta of PMI’s released this week support the outlook for solid growth as we head into 2018. Initial resistance is close by at 0.5820 and that may cap the pair for the time being. Any sustained break above that level would be a bullish signal. On the other hand, a failure to overcome 0.5820 may well see AUD/GBP sellers re-enter the market with renewed enthusiasm.

Exchange Rates:

The current interbank midrate is: AUDGBP 0.5802     GBPAUD 1.7234

The interbank range this week has been: AUDGBP 0.5742 – 0.5809     GBPAUD 1.7216 – 1.7415

View AUDGBP charts

The Australian dollar (AUD) has had a solid holiday period so far making gains across the board. Stronger commodity prices have helped to underwrite the gains and against the UK Pound we have seen the cross rate trade to a high of 0.5807 so far. Initial resistance is not far away come in around 0.5830 and that will be the first real test of this rally. Any sustained break above that level would be a positive signal and it would then move the focus to the 0.5970 area. Next week’s UK PMI’s will no doubt impact the Pound, while from Australia we have the Goods Trade Balance to digest.

Exchange Rates:

The current interbank midrate is: AUDGBP 0.5797     GBPAUD 1.7251

The interbank range this week has been: AUDGBP 0.5754 – 0.5807     GBPAUD 1.7221 – 1.7381

View AUDGBP charts

The Australian dollar (AUD) has held onto some of last week’s gains against the UK Pound (GBP), now around 0.5731 looks in a consolidative phase and should remain in the 0.5670-0.5770 over the Christmas holiday week.

Exchange Rates:

AUDGBP

Current Level: 0.5729

Support: 0.5560

Resistance: 0.5840

Last Week’s Range: 0.5637 – 0.5760

GBPAUD

Current Level: 1.7456

Support: 1.7123

Resistance: 1.7985

Last Week’s Range: 1.7360 – 1.7740

View AUDGBP charts

The Australian dollar (AUD) has enjoyed ongoing strength against the UK Pound (GBP) over the week…starting around the 0.5604 level it has strengthened to a high of 0.5719 helped by yesterday’s good Aussie jobs data. The BoE statement to keep rates on hold has not helped the GBP on this cross and we look for the AUD to maintain current levels, now at 0.5712, into next week with a push back towards 0.5720/30 likely.

Exchange Rates:

The current interbank midrate is: AUDGBP 0.5705    GBPAUD 1.7530

The interbank range this week has been: AUDGBP 0.5557 – 0.5719      GBPAUD 1.7487 – 1.7995

View AUDGBP charts

Positive developments in Brexit negotiations late last week helped to boost the UK Pound (GBP), driving the cross to the Australian dollar (AUD) to a fresh cycle low of 0.5557. Since then we have seen the pair stage a minor recovery to now trade around 0.5640, but the longer term down trend, which has been in place for the past couple of months, remains well intact for now. It would take a break above resistance around 0.5675 to bring into question that broader downtrend. Until then, the risks remain skewed toward further weakness.

Exchange Rates:

AUDGBP

Current Level: 0.5641

Support: 0.5550    

Resistance: 0.5675

Last week’s range: 0.5557 – 0.5714

GBPAUD

Current Level: 1.7728

Support: 1.7621       

Resistance: 1.8018

Last week’s range: 1.7502 – 1.7995

View AUDGBP charts

Whippy trading has seen the AUD make another 18 month low of 0.5570 on this cross, now a little better at 0.5577 but the AUD looks set to remain vulnerable against the GBP ..next support level is at 0.5500 and given a solid jobs report the GBP should hold better than the AUD against the USD so look for a move towards this support level next week.

Exchange Rates:

Support: 0.5560 (1.7985)      

Resistance: 0.5840 (1.7123)

View AUDGBP charts

Data continues to be positive for the Australian economy, with the latest Q3 CAPEX report showing increased investment for the third quarter in a row and Q3 GDP data will be supported by the higher plant and equipment spending. UK economic data continues to be patchy, with consumer sentiment sinking to a 16 month low, not good for retailers in the run-up to Christmas. Business confidence also slipped this month with their economic optimism the lowest since June 2016.

Exchange Rates:

The current interbank midrate is: AUDGBP 0.5587     GBPAUD 1.7898

The interbank range this week has been: AUDGBP 0.5585 – 0.5747     GBPAUD 1.7905 – 1.7400

View AUDGBP charts

The UK Pound (GBP) has bounced on the Brexit news to trade at 0.5691 and the trend continues to be that of a weaker Australian dollar (AUD). Next stop for the AUD/GBP is 0.5671 and given the weakness of the AUD against the USD look for this to be hit over the next few days.

Exchange Rates:

AUD/GBP

Current Level: 0.5694

Support: 0.5660

Resistance: 0.5840

Last week’s range: 0.5694 – 0.5837

GBP/AUD

Current Level: 1.7560

Support: 1.7668

Resistance: 1.7123

Last week’s range: 1.7133 – 1.7562

View AUDGBP charts

Now at 0.5736 the Australian dollar (AUD) has tracked lower all week against the UK Pound (GBP) which has been helped by better economic data. The AUD/GBP cross opened at 0.5856 at the start of the week and given the UK problems a push back to this level should be possible next week, but it will depend on which currency GBP or AUD is more resilient to further USD strength.

Exchange Rates:

The current interbank midrate is: AUDGBP 0.5740     GBPAUD 1.7420

The interbank range this week has been: AUDGBP 0.5732 – 0.5860      GBPAUD 1.7066 – 1.7445

View AUDGBP charts

The AUD is marginally weaker on this cross now around 0.5816, but given the UK woes we believe AUD weakness on this cross is temporary and look for a push back to the 0.5850/70 level over the week.

Exchange Rates:

Current Level Support Resistance Last week’s range
AUD/GBP 0.5816 0.5770 0.6080 0.5794 – 0.5869
GBP/AUD 1.7193 1.6447 1.7331 1.7038 – 1.7260
 

View AUDGBP charts

The Australian dollar (AUD) is now at 0.5848 after the UK Pound (GBP) downward move over the last two days. The low of the week was at 0.5804. The next resistance is at the week’s high of 0.5868, look for test of this level over the next 12/24hrs. We expect GBP weakness to prevail on this cross and look for a move over 0.5900 towards 0.5930 into next week.

Exchange Rates: 

The current interbank midrate is: AUDGBP 0.5843       GBPAUD 1.7115

The interbank range this week has been: AUDGBP 0.5803 – 0.5889      GBPAUD 1.6982 – 1.7233

View AUDGBP charts

Currently sitting around 0.5836 the AUDGBP is back from the 0.5912 high on Friday. The overnight boost in UK Pound has knocked this cross, but given the ongoing Brexit issues we still look for a retest of 0.5930 later in the week, especially given commodity strength should continue to support the Australian dollar.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5835 0.5770 0.6080 0.5758 – 0.5889
GBP/AUD 1.7137 1.6477 1.7331 1.6982 – 1.7366

View AUDGBP charts

The Australian dollar is now at 0.5887 vs the UK Pound, up from a 0.5788 yesterday after the BoE rate hike news. Although AUD is favoured on this cross with immediate resistance at 0.5930 likely to be tested early next week.

Exchange rates:

The current interbank midrate is: AUDGBP 0.5878 GBPAUD 1.7014

 

The interbank range this week has been: AUDGBP 0.5758 – 0.5888 GBPAUD 1.6983 – 1.7366

Below are our AUDGBP and GBPAUD charts, for the past five trading days.

View AUDGBP charts

Now around 0.5816 in a sideways pattern, but short term AUD downside looks favoured on this cross on a BoE rate hike come Thursday, immediate support is at 0.5800 then 0.5770.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5811 0.5770 0.6080 0.5803 – 0.5932
GBP/AUD 1.7209 1.6447 1.7331 1.6858 – 1.7231

View AUDGBP charts

The AUD continues to hold onto the 0.7800 level , bouncing back from the 0.7796 level , with stronger USD data expected over the week our view remains that downside is vulnerable, with a break of 0.7800 targeting 0.7750/50.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5898 0.5800 0.6080 0.5821 – 0.5904
GBP/AUD 1.6956 1.6447 1.7241 1.6937 – 1.7180

View AUDGBP charts

The Australian dollar has drifted lower against the UK Pound all week. It is now at 0.5846 down from 0.5907 at the start of the week. Immediate support is at 0.5820 which is not likely to be tested until next week when we also look for 0.5800 to be threatened.

Exchange Rates:

The current interbank midrate is:    AUDGBP 0.5845    GBPAUD 1.7109

The interbank range this week has been:    AUDGBP 0.5821 – 0.5914    GBPAUD 1.6910 – 1.7180

View AUDGBP charts

The disappointing Brexit speech has seen the AUD now at 0.5895 on this cross up from Friday’s levels, but overall direction is flat. The GBP is favoured given the stronger risk-off sentiment knocking the AUD.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5890 0.5800 0.6080 0.5825 – 0.5957
GBP/AUD 1.6978 1.6447 1.7241 1.6788 – 1.7167

View AUDGBP charts

The AUD has also suffered against the UK Pound dropping to 0.5838. The Brexit speech tonight may provide some respite for the Australian dollar but GBP economic data continues to be solid. More AUD is favoured next week.

Exchange Rates:

The current interbank midrate is:    AUDGBP 0.5837    GBPAUD 1.7133

The interbank range this week has been:    AUDGBP 0.5825 – 0.5970    GBPAUD 1.6750 – 1.7967

View AUDGBP charts

Australian dollar was knocked by the BoE tightening comments last night and better UK data. It is now at 0.5970 with bias to downside and a test of 0.5950 looks imminent. 

The current interbank midrate is:    AUDGBP 0.5967    GBPAUD 1.6756

The interbank range this week has been:    AUDGBP 0.5953 – 0.6183    GBPAUD 1.6174 – 1.6799

View AUDGBP charts

More positive Brexit news and weaker Aussie business confidence data has pushed the Australian dollar to 0.6075 against the UK Pound. Immediate support is at 0.6040 and tonight’s UK CPI provides a big event risk. AUD downside is favoured in the short term.

Current Level Support Resistance Last week’s range
AUD/GBP 0.6076 0.6025 0.6205 0.6073 – 0.6183
GBP/AUD 1.6459 1.6116 1.6596 1.6174 – 1.6465

View AUDGBP charts

Has broken higher but still within broad 0.6100-0.6185 range, now at 0.6161 and looks more positive, a break of the AUD higher on the USD should see the 0.6185 level exceeded as UK news around Brexit maintains a negative GBP tone.

Exchange Rates:

The current interbank midrate is:    AUDGBP 0.6060    GBPAUD 1.6234

The interbank range this week has been:    AUDGBP 0.6102 – 0.6176    GBPAUD 1.6190 – 1.6388

View AUDGBP charts

The Australian dollar is still in sideways pattern vs the UK Pound with direction unclear. It is now at 0.6157 on the softer GBP and we continue to see trading within the 0.6100-0.6185 range this week with AUD data having potential to push the Aussie towards the top of this range.

Current Level Support Resistance Last week’s range
AUD/GBP 0.6155 0.6060 0.6205 0.6106 – 0.6185
GBP/AUD 1.6248 1.6116 1.6502 1.6169 – 1.6377

View AUDGBP charts

The Australian dollar is still in a sideways pattern albeit more GBP positive with the AUD lower at 0.6128 the renewed risk-off tone favours the GBP on this cross and a move down towards 0.6100 now looks likely.

Current Level Support Resistance Last week’s range
AUD/GBP 0.6123 0.6060 0.6205 0.6116 – 0.6186
GBP/AUD 1.6331 1.6116 1.6502 1.6166 – 1.6350

View AUDGBP charts

The Australian dollar continues to trade sideways vs the UK Pound. It is now at 0.6167 but with the weaker GBP tone a crack at the 0.6200 level is possible next week.
The current interbank midrate is:    AUDGBP 0.6164    GBPAUD 1.6224

The interbank range this week has been:    AUDGBP 0.6120 – 0.6183    GBPAUD 1.6173 – 1.6341

View AUDGBP charts

The AUD has continued to hold firm against the UK Pound and is currently at 0.6160. It is trading sideways but holding at current levels looks to be building a base for a crack on to the 0.6200 region.

Current Level Support Resistance Last week’s range
AUD/GBP 0.6160 0.6060 0.6205 0.6043 – 0.6177
GBP/AUD 1.6234 1.6116 1.6502 1.6190 – 1.6549

View AUDGBP charts

The Australian dollar has strengthened against the UK Pounds as softer UK data and Brexit concerns scare investors away from the GBP. It is now at 0.6130 after a high 0.6177 two days ago and should hold current levels into next week, we favour another run at 0.6160/70…
The current interbank midrate is:    AUDGBP 0.6127    GBPAUD 1.6321

The interbank range this week has been:    AUDGBP 0.6036 – 0.6175    GBPAUD 1.6193 – 1.6567

View AUDGBP charts

The AUD remains in a flat trading range on this cross. Now at 0.6071 moves on this cross have been balanced by the risk aversion of the AUD with weaker UK data for the GBP. It should hold current level but this week’s UK data could see move up moves for the AUD. We look for 0.6100 to be tested.

Current Level Support Resistance Last week’s range
AUD/GBP 0.6070 0.6060 0.6150 0.6036 – 0.6099
GBP/AUD 1.6474 1.6611 1.6502 1.6396 – 1.6567

View AUDGBP charts

The Australian dollar has been fairly flat vs the UK Pound as weaker UK data has been balance by the risk-aversion for the AUD. It is now at 0.6064 and should hold around this level for the next few days. AUD still favoured on this cross, look for 0.6134 over the next week or so.
The current interbank midrate is:    AUDGBP 0.6044    GBPAUD 1.6546

The interbank range this week has been:    AUDGBP 0.6042 – 0.6099    GBPAUD 1.6396 – 1.6551

View AUDGBP charts

The AUD is marginally higher against the UK Pound at 0.6069 and although the AUD has been weaker over the last few days we are of still the view that long AUD is the way to go on this cross. We continue to look for 0.6134 later in the week.

Current Level Support Resistance Last week’s range
AUD/GBP 0.6066 0.6060 0.6150 0.5977 – 0.6089
GBP/AUD 1.6486 1.6260 1.6502 1.6423 – 1.6731

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The Australian dollar remains range bound against the UK Pound. It is currently sitting at 0.6060, but last night’s BoE statement now gives more weight to the AUD in this cross. We therefore look for a test of the 0.6134 level next week and for those looking to convert AUD to GBP a little patience may pay dividends.
The current interbank midrate is:    AUDGBP 0.6054    GBPAUD 1.6519

The interbank range this week has been:    AUDGBP 0.5977 – 0.6107    GBPAUD 1.6374 – 1.6731

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There has been no overall direction for this pair over the past week. That’s not to say we haven’t seen some volatility, we certainly have, but ultimately prices have ended up close to where they started the week. With both the Australian dollar and the UK Pound seeing periods of strength, the cross rate has whipped around between 0.6051 and 0.6134 (1.6526 and 1.6302). We expect more of the same sideways price action as we head into next week.
The current interbank midrate is:    AUDGBP 0.6098    GBPAUD 1.6398

The interbank range this week has been:    AUDGBP 0.6052 – 0.6136    GBPAUD 1.6298 – 1.6524

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The Australian dollar made fresh cycle highs against the UK Pound last week, trading to 0.6146 (low at 1.6271). Brexit concerns and soft UK inflation data have weighed on the GBP which struggled throughout much of the week. Over the past couple of days we’ve seen the pair consolidate around the 0.6075 (1.6461) level as the market awaits further direction. That direction may came from tomorrow’s release of Australian inflation data. A strong inflation result may well see the recent highs tested again, while a soft outcome could spark a significant correction lower. Immediate support comes in around 0.6060 (resistance 1.6502) and any break below there would be a signal further declines are likely.

Current Level Support Resistance Last week’s range
AUD/GBP 0.6083 0.6060 0.6150 0.5963 – 0.6146
GBP/AUD 1.6440 1.6260 1.6502 1.6271 – 1.6770

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The Australian dollar has outperformed most other currencies this week and UK Pound is no exception. We have seen consistent gains with the pair trading to fresh cycle highs last night at 0.6147 (lows at 1.6267). The AUD has benefited from gains in iron ore and gold prices, along with solid employment data. The GBP on the other hand has been hobbled by Brexit concerns and soft inflation numbers. Even last night’s better than forecast UK retail sales number couldn’t do much to turn the tide for the AUDGBP. Major resistance isn’t seen until around 0.6280, so that leaves plenty of room for the pair to continue this strong rally.
The current interbank midrate is:    AUDGBP 0.6129    GBPAUD 1.6315

The interbank range this week has been:    AUDGBP 0.5961 – 0.6146    GBPAUD 1.6271 – 1.6776

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The Australian dollar has maintained a positive bias against the UK pound over the past week, supported by positive data and strong gold prices. That being said, the pair has failed on two occasions to hold onto gains over the 0.6000 level and that leaves the door open for a correction lower. We just need a trigger. Today’s RBA minutes may well provide just that. Later in the week we also have Australian employment data to digest. If the pair does have another crack above 0.6000, there is resistance at 0.6020 which marks the cycle high made back on 20th June.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5965 0.5925 0.6020 0.5889 – 0.6014
GBP/AUD 1.6765 1.6611 1.6878 1.6628 – 1.6981

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The Australian dollar has completely outperformed the UK Pound this week trading to a 0.5991 high last night. Broad based AUD strength has been a key driver, while the GBP itself is struggling for direction. The pair now finds itself not too far from resistance around 0.6025. A break above there would be a bullish signal. I expect the pair will however struggle if it approaches that level over the coming days.
The current interbank midrate is:    AUDGBP 0.5972    GBPAUD 1.6744

The interbank range this week has been:    AUDGBP 0.5841 – 0.5991    GBPAUD 1.6692 – 1.7121

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After declining against the UK Pound for much of last week, the Australian dollar bounced off support around 0.5850 on Friday. Some disappointing UK data last week no doubt helped turn the pair around as it’s acted to counter the current Bank of England tightening bias. Initial resistance comes in around 0.5935 and that levels is likely to be tested this week.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5904 0.5850 0.5935 0.5841 – 0.5932
GBP/AUD 1.6937 1.6850 1.7094 1.6858 – 1.7121

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The Australian dollar has drifted lower against the UK Pound over the week from 0.5924 to 0.5850. Interest rate moves are still the driver and to this regard a more hawkish BoE will hold sway.
The current interbank midrate is:    AUDGBP 0.5846    GBPAUD 1.7105

The interbank range this week has been:    AUDGBP 0.5841 – 0.5932    GBPAUD 1.6858 – 1.7121

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Opens the week with the AUD marginally higher at 0.5931, still trading sideways but today’s RBA may change this , if not GBP interest rate moves will prevail. We favour a move towards the AUD support levels.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5910 0.5900 0.6020 0.5869 – 0.5985
GBP/AUD 1.6920 1.6611 1.6949 1.6708 – 1.7040

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The Australian dollar is no trading around 0.5915 vs the UK Pound, up from a low of 0.5868 earlier in the week. Still no clear direction on this cross, but would favour the AUD given the slowly emerging better fundamentals.
The current interbank midrate is:    AUDGBP 0.5911    GBPAUD 1.6919

The interbank range this week has been:    AUDGBP 0.5869 – 0.5985    GBPAUD 1.6708 – 1.7040

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Sideways movement on this cross with the Australian dollar now around 0.5970 vs the UK Pound. A move to 0.6020 looks possible over the week.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5967 0.5975 0.6050 0.5934 – 0.6018
GBP/AUD 1.6759 1.6529 1.6736 1.6616 – 1.6852

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The Australian dollar continues to hold firm against the UK Pound. It’s now at 0.5960 and given the uncertain UK political scene upside potential for the AUD remains. Look for a test of immediate resistance at 0.6000 later in the week.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5959 0.5950 0.6050 0.5904 – 0.5993
GBP/AUD 1.6781 1.6529 1.6807 1.6685 – 1.6936

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AUD continues to strengthen on this cross, now at 0.5948 after the BoE split rate decision, back from 0.5995 highs earlier in the week….we favour the AUD on this cross given ongoing UK political and Brexit issues …another push to 0.5995 looks likely next week.
The current interbank midrate is:    AUDGBP 0.5642    GBPAUD 1.7724

The interbank range this week has been:    AUDGBP 0.5897 – 0.5993    GBPAUD 1.6685 – 1.6958

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After the horror UK election this cross is now at 0.5976 as the UK Pound weakens and the Australian dollar looks poised to push further towards 0.6050. UK politics will outweigh Aussie economic data in the short term.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5973 0.5900 0.6050 0.5775 – 0.5977
GBP/AUD 1.6743 1.6529 1.6950 1.6731 – 1.7317

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The AUD has held well on this cross , now at 0.5821 but UK election tonight will outweigh Aussie economic data…a Conservative win would see a GBP relief rally so in this event look for a move to around 0.5715/20..
The current interbank midrate is:    AUDGBP 0.5820    GBPAUD 1.7181

The interbank range this week has been:    AUDGBP 0.5718 – 0.5861    GBPAUD 1.7061 – 1.7489

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A better couple of days for the Australian dollar on this cross as UK elections undermine the UK Pound. Now trading at 0.5777 after a high of 0.5816 yesterday. Poor Aussie data has knocked the AUD and we look for sideways trading ahead of the UK election on Thursday. AUD fundamentals remain poor.

Current Level Support Resistance Last week’s range
AUD/GBP 0.5777 0.5715 0.5825 0.5718 – 0.5833
GBP/AUD 1.7309 1.7167 1.7497 1.7145 – 1.7489

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The Australian dollar has weakened against the UK Pound and is now around 0.5735, but should the UK polls continue to be bad for the Conservatives, look for another attempt on 0.5825 next week. RBA statement Tuesday has potential to move the market.
The current interbank midrate is:    AUDGBP 0.5736    GBPAUD 1.7434

The interbank range this week has been:    AUDGBP 0.5718 – 0.5833    GBPAUD 1.7145 – 1.7489