Weaker UK retail sales figures pushes GBP/AUD back through 1.80 (Mike Vaughan)

Pound Pushes Higher Against the Australian Dollar on Recent Economic Divergence

Sterling has started the day on the back foot against a host of currencies including the Australian Dollar following some weaker than forecast retail sales figures this morning. An expected figure month on month of 0.3% came in at 0.1% causing a shift against the value of sterling. This caused a continuation of the recent trend for GBP/AUD which has now sat range bound between 1.79-82 for a number of weeks. With current levels near the bottom end this weeks shift could be an opportunity for anyone selling AUD.

Tomorrow will also see another important release from the UK with the latest GDP figures released at 09:30. Should these track today’s weaker retails sales then another shift against the pound could be seen.

Should you have an upcoming foreign exchange transfer to arrange and you would like more information on the currency service we provide then please contact the office on 01494 787478 or email me with a brief overview of your currency requirement and I will happily contact you with more information. As a specialist foreign exchange broker we have multiple contracts available the help maximise our clients transfer. Please email Mike at [email protected] for more information.