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GBP/AUD Exchange Rate

GBP 1.00 = AUD Mid-Rate       /
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Popular GBP Mid-Rates & Charts (30 days & 3 years) :

Friday, 22 August 2014 - Market Commentary
Daily currency news provided by UkForex

: It’s been a volatile week this week for the pound but a bit of calm was restored yesterday. GBP/USD traded a fairly narrow range between 1.6575 and 1.6598. UK retail sales data was released yesterday morning and showed that sales grew in July at a weaker pace than expected at 0.1%. Public sector borrowing data was also weaker than market forecasts. Come the afternoon, a series of US economic data printed stronger than expectations. Unemployment claims, Flash Manufacturing PMI, Philly Fed Manufacturing and Existing Home Sales all come in above consensus. Investors didn’t react overly positively to the news however as the Jackson Hole Symposium draws ever closer. That said the USD did firm up a little against the pound specifically and GBP/USD drifted to an overnight low of 1.6570. It has recovered a little this morning to open in London at 1.6585.
We expect a range today in the GBP/USD rate of 1.6510 to 1.6660
⇒ view full report Charts : GBP/USD GBP/EUR GBP/AUD GBP/JPY GBP/CHF GBP/CAD GBP/CNY
: European manufacturing and services PMI’s were a touch mixed yesterday. Overall, the data was a touch soft and it saw EUR/USD fall to a low of 1.3255. The stronger than expected US data failed to lift the dollar vs. the euro and instead, investors sold the USD ahead of Yellen’s speech at Jackson Hole today – there’s a feeling that she’ll sound a bit dovish and so undo the dollar positive news from the FOMC minutes earlier in the week. EUR/USD has continued its upward momentum in Asia and ended up trading to a high of 1.3296 overnight.
We expect a range today in the GBP/EUR rate of 1.2425 to 1.2510
⇒ view full report Charts : EUR/USD EUR/AUD EUR/JPY EUR/CHF EUR/CAD EUR/CNY
: AUD/USD and NZD/USD also ticked higher overnight and they open this morning at .9325 and .8415 respectively. All in all activity has been fairly muted though as traders await comments from Fed Chair Janet Yellen this afternoon. There was no economic data released from either Australia or NZ overnight and so investors had little information to react to. In the meantime GBP/AUD and GBP/NZD have weakened and trade at 1.7790 and 1.9715 this morning.
We expect a range today in the GBP/AUD rate of 1.7700 to 1.7880
We expect a range today in the GBP/NZD rate of 1.9620 to 1.9750
⇒ view full report
The Greenback surrendered recent gains yesterday as investors take stock ahead of the Jackson Hole Symposium and convergence of Central Bank heads today. Both Fed President Janet Yellen and ECB President Mario Draghi are due to address gathered officials in what investors have dubbed a key directional event. Wednesday’s Fed minutes inferred the U.S Central Bank has shifted toward a hawkish bias and Yellen’s speech is critical in affirming the change in stance. Dipping lower against most major counterparts markets largely ignored stable employment data and strong manufacturing numbers. By all rights the Dollar should have consolidated gains yesterday instead it has served to hone market focus and highlights the importance placed on today’s outcome. A hawkish Yellen tone should see the Greenback rally again gather pace. Euro found some support yesterday bouncing back from 11 month lows on stronger than expected German Private-sector growth and stable manufacturing. EUR/USD opens this morning at 1.3281 as focus turns to Jackson Hole and signs of furthering Central Bank divergence.
Data releases
Jackson Hole Symposium
NZD: No data today     
No data today
GBP: No data today
⇒ view full report Charts : USD/EUR EUR/USD USD/JPY

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