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AUD Fluctuates as Risk Sentiment Rises

Yesterday’s high: AU$1.6430

Yesterday’s low: AU$1.6354

Australian Dollar Struggles against Stronger Pound

Demand for the Pound has improved since last week due to some strong UK data published on Friday, as well as speculation about the Bank of England’s (BoE) September policy decision.

As a result, the volatile Australian Dollar has been unable to hold its ground against Sterling, despite risk-correlated currencies becoming more appealing.

Market relief that North Korea did not hold another missile test over the weekend left investors less hesitant to buy risky currencies. However, the ‘Aussie’ was held back by falling iron ore prices.

AUD Outlook: UK Inflation in Focus

Many key UK and Australian ecostats are set to come in in the coming days, culminating with the Bank of England’s (BoE) September policy decision during Thursday’s European session.

Britain’s August inflation report will be published today. The strength of inflation could set the tone for how optimistic Pound traders will be about the chances of a more hawkish BoE.

Australian Dollar traders will continue to focus on risk-sentiment, but consumer confidence data could inspire AUD fluctuations on Wednesday.

Key Events

12th September

09:30 UK Inflation Rate

13th September

01:30 Australian Consumer Confidence

09:30 UK Employment Report

14th September

02:30 Australian Employment Report

12:00 Bank of England Decision

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To keep up to date with the Australian Dollar, visit the AUD blog in our Currency News section.

James Baxter

Senior Currency Broker
T: 01442 892 062

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