Live: The Pound / Australian Dollar Exchange Rate Chart
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Latest Pound to Australian Dollar Exchange Rate News
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- Australian dollar outlook: RBA minutes marginally beneficial to AUD, forecasters at UniCredit say currency to remain week
- Australian dollar weakness forecasted yet lower by technical analyst; RBA decision will however be key event-risk on the horizon
- Australian dollar / New Zealand dollar in morning profit-taking strength; broader environment remains bearish, RBA minutes ahead
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- Pound sterling climbs to fresh highs versus Australian and New Zealand dollars; long-suffering AUD buyers will consider dipping their toes into FX waters
- FX: Australian dollar + New Zealand dollar take a hammering against the likes of the sterling, euro and US dollar
- The pound sterling is 0.33 pct up versus the Australian dollar; GBP/AUD is at 1.5433 at 10:23.
- Australian and New Zealand dollar in return to form sending the British pound sterling sharply lower in morning trade
- Pound sterling on front-foot against vulnerable Australian and New Zealand dollars
- Australian dollar enjoys strong bounce as analysts forecast the end of unrivalled strength
- Australian dollar strength no longer justified say Lloyds Bank forecasting increased weakness ahead
- Australian dollar + New Zealand dollar firm up but forecasters see further losses ahead, GBP/NZD reaches three month high
Australian Dollar | Latest Australian Dollar Exchange Rate News and Live Chart
Boost for Australian dollar as GDP figures beat expectations, but more rate cuts lie ahead warns one analyst
- Details
- Category: Australian Dollar
- Published on Wednesday, 06 June 2012 09:36
- Written by Sam Coventry
"Our economists note that current RBA expectations may be too aggressive and continue to target RBA rates at 3.25% in August" - Geoffrey Yu at UBS.
The Australian dollar (Currency:AUD) is in the ascendency this morning, thanks to a good economic data reading.
As such, the pound Australian dollar exchange rate is 0.84 pct down on Tuesday's closing level at 1.5662.
(Please note, our investment bank currency forecasts are published on our IMT site, we grant Free access via this Facebook gateway). 
The Australian dollar vs US dollar exchange rate is 1.25 pct higher on yesterday at 0.9864.
Australian GDP came in far stronger than expected at 1.3 pct q/q and 4.3 pct y/y.
Consensus forecasts had been at 0.6 pct q/q and 3.3 pct y/y.
"Nonetheless, the advance was still as a result of the mining sector, and the rising imbalances within Australia’s economy is still a concern for the RBA," notes Geoffrey Yu, FX strategist at UBS.
UBS economists note that current RBA expectations may be too aggressive and continue to target RBA rates at 3.25% in August.
Yu says:
"Since Australia's emergence as a low inflation country, the RBA's average or 'neutral' cash rate has been 5.75%.
"But because domestic banks have widened their spread between lending rates and the cash rate since 2008, the average or neutral rate has moved significantly lower.
"If neutral is now 150bp below the past, so too is the trough typically needed to stabilise the domestic economy, i.e., it's now around 2.75%-3.25%. We continue to expect RBA rate cuts to reach 3.00- 3.25%."
