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GBP/AUD Rallies Following Tenreyro Comments

Friday’s high: AU$1.7528

Friday’s low: AU$1.7424

Sterling Recovers on Suggestion Brexit won’t Dissuade Rate Hike

The Pound rallied by around a cent against the Australian Dollar at the end of last week’s session, recovering from a weekly low on Thursday following comments from the Bank of England’s (BoE) Silvana Tenreyro.

In speaking about Brexit and its impact on the UK economy Tenreyro suggested that nothing was off the table for the bank, including a possible rate hike.

Meanwhile the ‘Aussie’ fell back on Friday as concerns were raised over Australia’s growth prospects as analysts suggest that this year’s key Christmas trading period may not be as lucrative as some retailers had hoped.

AUD Outlook: BoE Financial Stability Report to Impact Pound?

Looking to the session ahead, GBP AUD may trend lower on Tuesday as the BoE publishes its latest Financial Stability Report, with further warnings about the size of UK consumer debt unlikely to boost confidence in the British economy.

At the same time the only notable Australian economic this week will be released on Thursday, likely leaving momentum in the Australian Dollar to be driven by movement in the commodity markets during the first half of the week.

Key Events

28th November

09:30 UK BoE Financial Stability Report

30th November

01:00 AU New Home Sales Oct

01:30 AU Private Sector Credit Oct

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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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