GBPAUD: Near term momentum still with sterling – Westpac

The Bank of England’s new policy preference to raise its official interest rate in coming months prompted a sharp rally in the pound against all major currencies, including the Australian dollar, explains Sean Callow, Research Analyst at Westpac. Key Quotes “In coming weeks ...

GBP/AUD rises again toward 1.7000, more gains ahead?

GBP/AUD bounced sharply today from 6-day lows at 1.6850 and rose to test last week highs above 1.7000. The move was boosted by a slide of the Australian dollar across the board.  The Aussie weakened after the decision and the statement from the Reserve Bank of Australia. The central bank kep ...

AUD to rise further against GBP – Westpac

Martina Song, Research Analyst at Westpac, expects AUD to rise further against GBP in the weeks ahead as domestic data have capped AUD for now but shouldn’t pose many downside risks, and AUD should hold steady. Key Quotes “GBP meanwhile continues to be weighed down by Brexit. We se ...

Sell GBP/AUD? Target: 1.5810 – Westpac

Analysts at Westpac suggested to Sell GBP/AUD, stating, "Looking for a downside break of recent tightening range." Key Quotes: "Entry: Look to sell 100% at 1.6110, Stop: 1.6175, Target: 1.5810. Rationale: Recent data from China underscore the One Belt/One Road investment driver fo ...

GBP/AUD should slip back to 1.6250 – Westpac

Sean Callow, Research Analyst at Westpac, notes that the Sterling has been the strongest G10 currency over the past month by a considerable margin, even rising against the resurgent US dollar. Key Quotes “A degree of encouragement in UK economic data and the Bank of England’s switc ...