The GBPAUD pairing has moved by over 3% within the last fortnight as changing policy’s impact demand. In Summary the changing data from the US has suggested an improvement globally, this change has allowed traders to feel more confident in demand pushing the demand up for the AUD along with the cost to buy it. This trend is something I expect to continue for the rest of the month however at a slower pace as economic data starts to slow down.
Earlier this week the Bank of England also left forecasts unchanged as to when interest rates will raise which weakened the Pound further. Next week the busy days are Tuesday with UK Inflation data due and GDP figures on Thursday. Generally I expect these to slow the fall in GBPAUD as both data releases are expected to show an improvement for the Pound.
Rates currently sit over the 1.80 mark which is a significant milestone and emotional barrier for most so if you have a trade to complete in the near future you may think it wise to limit your exposure. This can be by using a number of tools available here including: Limit Orders, Forward Contract, Spike Notifications and Rate Alerts. All of which are free services we offer to our client base here.
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