GBP/AUD When Should I Move? (Daniel Johnson)

Pound Pushes Higher Against the Australian Dollar on Recent Economic Divergence

There is little economic data of consequence being released down under this week. The only point at which I expect to see possible volatility is tomorrow at 9.05am. Governor of the Reserve Bank of Australia Glenn Stevens will be making a speech and he will address the current stae of the Australian economy and the value of AUD. I expect a strong stance from Mr Stephens considering the recent Spike in AUD, so we could expect further improvement for AUD.

GBP/AUD bouyancy levels are currently between 2.10-2.13, I think current market conditions should not be taken for granted for AUD sellers. I think this will only be a small window of opportunity due to larger underlying problems with the Australian economy.

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