Higher yielding currencies have suffered in the last 24 hours as investors look for alternatives to their current investments. The Aussie has weakened against a rising pound and I expect this will be a shortlived opportunity for those looking to buy Aussies with sterling. It would seem reasonable to expect that the pound will rise against the Aussie this quarter but that longer term the Aussie will gain back ground as investors seek out those better returns, any interest rate hike in the UK looks much further down the line.
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