GBP/AUD are once again trading above 1.80, following a mini revival for the AUD over the past couple of weeks. Rates had spiked below this level off the back of better than expected employment data and it did seem as though this positive momentum would continue and help move the AUD back towards 1.75 on the exchange. However, following the BoE minutes released this week, Sterling found further market support and this has pushed rates back towards the current levels.
Next week is very quiet in terms of economic data releases, especially for the AUD. Therefore any major market spikes on the currency pair, are likely to be instigated on the UK side. Investors will be keeping a close eye on Tuesday’s BoE inflation report and BoE governor Mark Carney’s address on Thursday, both of which could cause additional market fluctuation.
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