Short-term forecast: GBP/AUD appears to be forming a base following May's selloff, with the balance of probabilities now favouring further recovery.
Aussie Dollar Still Looks Good: Lloyds
- Category: AUD
The Australian dollar remains well supported and the constructive backdrop is intact, Lloyds says, even as the currency absorbs a run of softer domestic data that has trimmed rate hike expectations at the margins.
Harper and minimum wage uplift offer supportive tailwinds for Aussie's rally.
A period of stability in GBP/AUD might be coming to an end, and a retest of May lows at 1.8613 might come into play.