‘Aussie’ Levels out Against Sterling (AUD/GBP) Today Given Inflationary Outcomes

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Pounds Sterling (GBP)

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.

About

Oliver has developed an expert understanding of the Forex market and the main drivers behind currency movement since entering the financial sector. He writes daily articles covering the latest shifts in currency for a range of sources online, as well as providing potential forecasts of future movement. This gives his followers all the information they require to protect their international money transfers from market exposure and currency risk. - View all posts by Oliver Meredew


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