AUD Choppy After Portugal Meeting

James Baxter - Sterling Suffers After UK ElectionJames Baxter
Senior Currency Broker
T: 01442 892 062

GBP/AUD was fairly volatile yesterday, rising above 1.70 before tailing away over the course of the afternoon. Mark Carney, the Bank of England’s ‘unreliable boyfriend’, hinted at a potential interest rate hike at a meeting of the heads of most of the major central banks in Portugal. As a result, the pound strengthened across the board. There are no significant data releases from either country today so we may be in for a subdued day for the GBP/AUD cross. At the time of writing, GBP/AUD is trading in the low 1.69’s and AUD/EUR is sitting in the low 0.67’s, up slightly over the last 24 hours.

17 06 29 GBP to AUD exchange graph

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James Baxter
Senior Currency Broker
T: 01442 892 062