The Pound to Australian Dollar exchange rate has receded from early August highs but economic data on both sides of the GBP/AUD equation could help the pair to steady above 1.9315 in the week ahead.
The Pound to Australian dollar exchange rate fell heavily on Thursday as hawkish remarks from the Reserve Bank of Australia Governor Michelle Bullock helped the antipodean currency to outperform, but the pair has likely reached a near-term bottom and may even have scope to recover as far as 1.97 in the days ahead.
Australian dollar trading has surged following the unwinding of popular carry trades over recent sessions, making the antipodean currency the fifth most traded on the interbank market, according to Goldman Sachs data.
The Pound to Australian dollar exchange rate has leapt to post-pandemic highs in recent trade and the author’s model suggests it’s likely to remain buoyant above the nearby 1.96 handle over the coming days.
- Australian Dollar: GBP/AUD Hits Fresh Highs After Core Inflation Slowdown Casts Doubt on Another RBA Hike
- Pound to Australian Dollar Week Ahead Forecast: Painting a High Water Mark Might
- Australian Dollar's Losses Snowball, Bounce Overdue
- Australian Dollar, Industrial Metals Weighed Down by China Plenum Disappointment
Horizon Currency Ltd
Albany House
40 Shute End
Wokingham
RG40 1BJ Companies House Registration: 11242368
Horizon Currency's payment and foreign currency exchange services are provided by:
Global Currency Exchange Network Ltd T/A GC Partners. Global Currency Exchange Network Ltd is authorised by the FCA under the Payment Services Regulations, 2017 (FRN: 504346). Registered as a Money Services Business, regulated by HM Revenue & Customs ("HMRC") under the Money Laundering Regulations 2017. (Registration number is 12137189). Registered in England and Wales. Company number 04675786. Registered Office 3rd Floor 100 New Bond Street, London, England, W1S 1SP.
Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508).