Live: The Pound / Australian Dollar Exchange Rate Chart
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Latest Pound to Australian Dollar Exchange Rate News
- 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: BMO Capital markets 'loath' to readjust their short term forecasts for AUD despite today's slump
- Australian dollar 0.8 pct in the red versus the pound sterling and US dollar as RBA interest rate comes earlier than forecast
- Pound sterling and euro make strong advances against significantly weaker Australian dollar
- Pound sterling vs Australian and New Zealand dollar: GBP heads above 1.5 vs AUD, Chinese manufacturing PMI to dictate direction of both AUD and NZD this week
- Pound sterling flirting with 1.5 against the Australian dollar once more but this level will prove to be a significant point of resistance for further gains
- Australian dollar + Japanese Yen: Currencies react to news of possible S&P downgrades
- Australian dollar + New Zealand dollar overvalued - But both currencies continue to trade in robust fashion today
Australian Dollar | Latest Australian Dollar Exchange Rate News and Live Chart
Australian dollar declines against GBP and USD as investors maintain the opinion that the AUD is overvalued
- Category: Australian Dollar
- Published on Monday, 23 July 2012 09:54
- Written by Sam Coventry
- The latest investment bank FX Forecasts are at our International Money Transfer forecasts page, access is Free via the Facebook gateway here
"Opinions that the aussie dollar is overvalued are springing up from all directions now and we agree" - Richard Driver at Caxton FX.
The Australian dollar (Currency:AUD) and a host of other high-beta currencies are lower against the safer dollar and sterling this morning in line with nervous investor sentiment over Spain.
The pound to Australian dollar exchange rate is 0.35 pct higher on a day-to-day basis 1.5101.
The pound to New Zealand dollar is 0.47 pct higher at 1.9635.
"Asian stocks have made heavy losses in their past two sessions, which has capped the aussie dollar’s progress for the time being. Opinions that the aussie dollar is overvalued are springing up from all directions now and we agree; we certainly foresee a downward correction for the aussie dollar in the coming weeks," says Richard Driver at Caxton FX.
The falls being experienced by the Australian dollar come despite Australia’s Q2 PPI report which came in slightly stronger than consensus at 0.5% q/q (cons. 0.3%) and 1.1% y/y (cons. 1.0%).
"As a result, our Australian economics team sticks to their forecast for Thursday’s CPI. They expect the headline to come in at +0.6% q/q, but would need to see the core inflation reading fall to 0.5% to trigger another rate cut from the RBA when the board next meets on August 7," says Gareth Berry at UBS.
As mentioned however it is Spain that is driving investor sentiment lower, something that does not favour the high yielding currencies such as the AUD and NZD.
This morning it has emerged that Murcia become the second Spanish region to request state aid following a similar move by Vallencia last week.
Spain's 10-year bond yields remain firmly in the danger zone this morning, at over 7.5 pct, up from 7.275 pct registered on Friday night.
"Should more regions, such as Catalonia, seek aid, it will be "pretty much nailed on that the Spanish government will then eventually need a bailout itself," says Michael Hewson at CMC Markets.