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GBP/AUD Slumps Ahead of RBA Minutes

Last week’s high: AU$1.6982

Last week’s low: AU$1.6637

Falling Fed Rate Bets Benefit Australian Dollar

The Pound hit a three-week low against the Australian Dollar towards the close of last week as consumer inflation expectations surged from 3.6% to 4.4% and boosted AUD exchange rates. Higher-risk currencies like the Australian Dollar also benefited as hopes for a third rate hike from the Federal Reserve in 2017 were dented by below-forecast US inflation data.

AUD Outlook: Neutral/Negative

The Australian Dollar could weaken on Tuesday if the minutes from the recent Reserve Bank of Australia (RBA) policy meeting show that the central bank is still taking a cautious approach to monetary policy.

Key Events

18th July

02:30 Reserve Bank of Australia Rate Meeting Minutes

19th July

01:30 Australian Westpac Leading Index

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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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