Australian Dollar Pound Exchange Rate Today: AUD/GBP Edges Away from Year Low

Modified: Wednesday, 22 January 2014 11:00 BST - Written by Minesh Chaudhari

STORY LINK Australian Dollar Pound Exchange Rate Today: AUD/GBP Edges Away from Year Low

The Australian Dollar Pound exchange rate (AUD/GBP) edged away from a multi-year low after the market reacted positively to the release of stronger than forecast inflation data.

The currency also advanced against the US Dollar and edged away from the 8-year low it had been stuck at against the New Zealand Dollar. The rise came after the Australian Bureau of Statistics said that its consumer price index climbed by 0.8% in the fourth quarter of 2013, a figure that surprised economists as it was more than twice as high as predicted.

The ‘Aussie’ leapt as investors scrambled to pare back their bets on the possibility that the RBA would cut interest rates at its next policy meeting. Bets that a cut to interest rates would occur before the half way point of the year had been above 50% prior to the inflation data release.

Economists had been forecasting that inflation in the Oceanic nation would increase by just 0.4% in the fourth quarter following a string of muted reports over the course of 2013.

The Pound could pare its losses later in the session if today’s UK unemployment data comes in strongly. Economists are expecting the data to show that the nation’s unemployment rate fell closer to the 7% target of the Bank of England.
Sterling was pushing towards a one-year against the Euro.

Thursday’s session could offer support for the ‘Aussie’ if the latest HSBC manufacturing PMI Flash report comes in positively. Any good news out of China, Australia’s largest trading partner bolsters the ‘Aussie’.

Important Australian Dollar Exchange Rates (Updated: 11:00 GMT 22/01/2014)

The Pound Sterling to Australian Dollar exchange rate is trading down -0.4% at 1.86404 GBP/AUD.

The Euro to Australian Dollar exchange rate is trading down -0.87% at 1.52680 EUR/AUD.
The US Dollar to Australian Dollar exchange rate is trading down -0.78% at 1.12730 USD/AUD.
The Swiss Franc to Australian Dollar exchange rate is trading down -0.85% at 1.23683 CHF/AUD.
The Canadian Dollar to Australian Dollar exchange rate is trading down -0.72% at 1.02801 CAD/AUD.
The Hong Kong Dollar to Australian Dollar exchange rate is trading down -0.79% at 0.14532 HKD/AUD.
The Australian Dollar to Euro exchange rate is trading up +0.87% at 0.65496 AUD/EUR.
The Australian Dollar to Pound Sterling exchange rate is trading up +0.41% at 0.53647 AUD/GBP.
The Australian Dollar to US Dollar exchange rate is trading up +0.78% at 0.88708 AUD/USD.

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