Pound Sterling fell against the Australian and New Zealand Dollars last week but further downside could be limited in the days ahead, with support found around 2.0685 and 2.2131 in GBP/AUD and GBP/NZD, respectively, as economic headwinds loom large over the antipodean currencies.
The Australian and New Zealand Dollars rallied strongly against a receding US Dollar on Tuesday but the recoveries in AUD/USD and NZD/USD were stymied, perhaps only temporarily, when AUD/CNY and NZD/CNY collided with the daily limits prescribed by the People’s Bank of China.
RBA Can Move Again in May
- Category: AUD
The RBA left its cash rate unchanged at 4.1% and opened the door ajar to the cycle's second cut in May, according to some analysts.
The Australian Dollar slumps against the Pound at the head of a busy week.