Sterling Australian Dollar remains flat awaiting the next push

The Pound has remained fairly flat against the Australian Dollar so far in trading this week, seemingly awaiting the next piece of market data large enough to provoke either a change in risk attitude or either higher/lower confidence for either of the two currencies.

Yesterday saw fairly positive unemployment figures for the U.K which has helped the Pound keep a steady ship but the markets are still slightly favouring the Australian Dollar following comments from he European Central Bank last week bringing confidence into global markets and helping the ‘riskier’ currencies such as the Australian Dollar and New Zealand Dollar gain back a little strength.

Personally I feel once again this is Europe using smoke and mirrors to put investors off of the scent of what is really going on and that we still have a lot more to come from countries such as Spain and Italy which in my opinion will eventually move back the riskier currencies and does give us the chance of seeing the Pound get back above the 1.60 level before Christmas time.

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