As demand returns to the major currencies again, in particular the Euro, the Australian Dollar has suffered. In the last two weeks the GBPAUD has improved by over 2 cents trading as high as 1.4891 on mid-market during the morning session. During the last week of the month typically little data is released so expect the next couple of days to be rangebound by a cent for GBPAUD.
On Wednesday Australian January Retail Sales figures are due out with expectation of 0.3% month on month so anything worse could see GBPAUD head towards the 1.50 resistance levels.
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