AUD currency update: Pound strengthens following better than expected inflation figures

James Baxter - AUD currency update: Pound strengthens following better than expected inflation figuresJames Baxter
Senior Currency Broker
T: 01442 892 062

GBP/AUD rose around one percent yesterday as the pound strengthened across the board following higher than expected inflation figures from the UK yesterday morning.

Inflation has now risen to a four year high, fuelling speculation that the Bank of England may soon have to raise interest rates, strengthening the pound in the process. Unemployment numbers from the UK this morning are unlikely to have an impact on the strength of sterling and there are no data releases to note from Australia.

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, unchanged over the last 24 hours.

GBP/AUD exchange rate graph

JSB GBPAUD 8

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James Baxter
Senior Currency Broker
T: 01442 892 062