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AUD currency update: fairly downbeat monetary policy statement

James Baxter - AUD currency update: fairly downbeat monetary policy statementJames Baxter
Senior Currency Broker
T: 01442 892 062

GBP/AUD has fallen over one percent over the last 24 hours despite a fairly downbeat monetary policy statement from the Reserve Bank of Australia in the early hours of this morning.

The Aussie dollar has benefitted, along with the other commodity dollars, after comments from Donald Trump suggesting significant tax reforms in the US, lending support to ‘riskier’ assets, the Aussie dollar included.

There are no further releases from Australia today but we have a raft of numbers from the UK, including manufacturing and industrial production figures this morning and a GDP estimate this afternoon, so we may see some movement in sterling crosses.

At the time of writing, GBP/AUD is trading in the low 1.63’s and AUD/EUR is sitting in the high 0.71’s.

GBP/AUD exchange rate graph

GBP/AUD exchange rate graph

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To keep up to date with the Australian dollar, visit our AUD blog section on our website here.

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James Baxter
Senior Currency Broker
T: 01442 892 062

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