Sterling strengthens against the Australian Dollar

GBP to AUD Steady as Markets Consider BoE and RBA Rate Cuts

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.

If you need to make a currency transfer soon then email me Tom Holian [email protected]