The GBP/AUD see saw is continuing with neither currency looking have a sustained period of strength. Since April rates have ranged between 1.79-83 with little to suggest that this trend will not continue. With current levels sitting close to 1.8050 this is representing better value for AUD sellers than buyers.
Looking at data to end the week and there is little data of note from Australia or the UK but it is worth watching out for this afternoons US GDP figures at 13:30 and this evenings FED interest rate decision/monetary policy statement. This can have an impact on risk appetite and in turn can cause a shift in demand for the higher yielding currencies such as the Australian Dollar. Should the data from the US be as expected (GDP forecast to show an improvement) then this could cause an increase in investor appetite and potential drive to the AUD.
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