The appeal of the Australian Dollar (AUD) has risen across the board today, although against the Pound Sterling (AUD/GBP), the ‘Aussie’ has been trending in a tight range.
Australian Dollar (AUD) Exchange Rate News: Falling Inflation may have Bolstered Investors, given Recent Data
The Australian Dollar (AUD) has been on a rise against most of its economic rivals today, with these gains including 0.3% against the Canadian Dollar (AUD/CAD), 0.4% against the Euro (AUD/EUR) and 1.2% against the New Zealand Dollar (AUD/NZD).
Given that wage growth has either been flat or falling of late, it can be supposed that the morning’s falling monthly and yearly outcomes for the Melbourne institute inflation rate have triggered this advance. Respective movements were from 0.4% to -0.2% and from 2.3% to 2.1%.
Elsewhere, however, the Australian Dollar has not been shifted dramatically by the weekend’s G20 summit of finance ministers. Australia’s Scott Morrison was in attendance, but the policymaker left with the agreement that there was no need for a unified international growth support scheme at present.
Pound Sterling (GBP) Exchange Rate News: UK Currency Weathers Most Recent ‘Brexit’ Development
The Pound (GBP) has given a strong performance so far today, having risen by 0.6% against the Euro (GBP/EUR), 0.9% against the New Zealand Dollar (GBP/NZD) and by 1.2% against the Hungarian Forint (GBP/HUF).
Although it was earlier softened by a UK Referendum outcome prediction, the Pound has since rallied. The forecast in question was the government’s estimation that it would take approximately 10 years to take the UK out of the Eurozone, while the subsequent urging of ‘In’ supporter Nicola Sturgeon for the PM to focus on the positives of remaining part of the EU may see a shift in the ‘Stay’ campaign’s tactics.
AUD & GBP Exchange Rate Forecast: Australian Manufacturing Stats Out Tomorrow
The near future will see a range of Australian economic announcements, although at the time of writing, the only high-impact data due out was tomorrow morning’s AiG performance of manufacturing index for February. To add to the tension, the prior result of 51.5 was not far from the sub-50 contraction range.
For the UK, influence will come during the night when the respective manufacturing PMI is announced, also for February. Current forecasts are for a slip from 52.9 to 52.3.
AUD/GBP Exchange Rates
The Australian Dollar to Pound Sterling (AUD/GBP) exchange rate was trending in the region of 0.5144 and the Pound Sterling to Australian Dollar (GBP/AUD) exchange rate was trending in the region of 1.9440 today.
Disclaimer: Currency-Converter.com.au and its data provider, TorFX, make no claims regarding the validity or exactness of the information provided in on this site and will not be held liable for any use, interpretation, or other implementation of the information provided. Currency-converter.com.au make no warranties, express or implied, as to results to be obtained from use of such information, and make no express or implied warranties of condition, quality, performance, merchantability or fitness for a particular purpose or use. Currency-converter.com.au shall not have any liability for the accuracy of the information contained in the services provided or ommissions there in which are made available on a free, as-is basis. None of the aforementioned parties shall be liable for any third party claims or losses of any nature, including, but not limited to, lost profits, punitive, consequential, special, incidental, indirect or similar damages even if advised of the possibility of such damages. Rates offered are interbank rates and may not be the same as offered by your financial institution, and do not include commissions. Rates shown on this site will vary from those provided by TorFX or other providers linked to from this site.