GBP/AUD rates continue to trade above 1.80 on the exchange, providing good buying opportunities for those holding GBP. It’s been a volatile few days for the Pound with losses against the AUD last week, following the latest UK quarterly inflation report. It now seems as though UK interest rates are unlikely to be raised until the last quarter of next year, news which knocked investor confidence in the Pound.
This morning we had the latest set of UK Retail Sales figures and with an improvement from 0.3% to 0.8% the Pound found support after a difficult few days, with GBP/AUD moving back above 1.82.
It will be interesting to note how any improvements in China’s economy will effect the AUD, as generally growth in China’s economy is considered a positive for the Australian economy due to their trade links and can often help strengthen the AUD’s market position.
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