Will GBP/AUD Rates Reach 1.75? (Matthew Vassallo)

AUDGBP Pressured After RBA Rate Meeting

GBP has continued to perform well against the AUD with rates finding a lot of protection around the 1.70 mark. Whilst we have moved away from the high of a couple of weeks ago, the current levels still offer fantastic buying opportunities on a currency that at one staged had threatened to move below 1.40. Whilst yesterday’s poor UK Retail Sales figures halted the Pound’s momentum somewhat, I still feel the slowdown in the Australian economy and China’s demand for their raw materials mean the AUD could struggle against GBP over the coming weeks.

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