Volatility in AUD exchange rates continue (Mike Vaughan)

Australian Dollar Forecast: AUDGBP gains by 10% since April

The volatility in the Aussie against sterling has continued this week with the pair ranging from a low of 1.803 to a high of 1.818. The GBP/AUD pair has now been range bound from 1.783 to 1.8310 in the last month with neither currency looking to really push forward. Each time the pound gains the Aussie will fight back and vice versa and it is this trend which is making this pairing very difficult to predict. However with current buy levels close to this high I would suggest they are still showing some good value.

Next week is a relatively quiet week from the Australian Dollars point of view but there is plenty coming out from the UK witha  speech from Governor Mark Carney on Thursday the main focus. Any further hints towards interest rate hikes and look for the month high of 1.8310 to be tested.

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