Weekly Currency Update GBP/AUD - Week ending 17th September
Sep 21st 2010, 1:46 pm
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Weekly Currency Update GBP/AUD - Week ending 17th September
As promised here’s a brief update on what’s been happening with the Australian Dollar over the last week.
The GBP/AUD is still dominated by a downtrend, and in particular a sharp selloff in August and September, which pushed this pair from 1.7560 down to 1.6440 a 4-month low.
Sterling did manage to recoup some of the heavy losses it made against the Dollar at the back of the previous week. The FX market has moved on from the election and the formation of a government may not see much of a bounce in the AUD.
The strength of Sterling against the AUD comes despite weakness - the UK currency was weaker across the board after market talk of heavy selling by a UK clearing bank and concerns over Britain's fragile economic recovery.
GBP/AUD movement – High’s & Low’s of last week (13th September– 17th September)
High’s: 1.6741
Low's: 1. 6441
A movement of 1.82%
Difference on £200,000
High: AUD 334,820
Low: AUD 328,820
Difference of: AUD 6,000
Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.
Regards
Mark Bodega
Director - HiFX
The GBP/AUD is still dominated by a downtrend, and in particular a sharp selloff in August and September, which pushed this pair from 1.7560 down to 1.6440 a 4-month low.
Sterling did manage to recoup some of the heavy losses it made against the Dollar at the back of the previous week. The FX market has moved on from the election and the formation of a government may not see much of a bounce in the AUD.
The strength of Sterling against the AUD comes despite weakness - the UK currency was weaker across the board after market talk of heavy selling by a UK clearing bank and concerns over Britain's fragile economic recovery.
GBP/AUD movement – High’s & Low’s of last week (13th September– 17th September)
High’s: 1.6741
Low's: 1. 6441
A movement of 1.82%
Difference on £200,000
High: AUD 334,820
Low: AUD 328,820
Difference of: AUD 6,000
Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.
Regards
Mark Bodega
Director - HiFX
