Markets Wait For Lowe Speech And US GDP Tomorrow

AUDGBP Surrenders 0.5600 Level Again as Sterling Gains

The Aussie Dollar clawed back some ground against sterling in the early sessions as the Bank of England Quarterly Inflation Report failed to give the pound a huge amount of support, again leave GBP AUD slightly over 1.80 before the level drifted towards the market close.  It looks as though speculators are waiting to see if RBA Deputy Governor Lowe has anything to say on the subject of the Aussie later tonight, and with US GDP being a barometer of global confidence the release tomorrow afternoon could be key to short term exchange rates.

UK GDP is published on Friday, and is expected to be relatively robust, so I still think sterling will see-saw around the 1.80 mark for the foreseeable until we get firmer moves from either of the central banks.  If you would like to make a currency transfer and would like to get the best exchange rate, then feel free to email Colm at [email protected] and I would be happy to help.