Westpac note that "Aussie hit a post-Brexit...>

FOREX: Westpac note that "Aussie hit a post-Brexit low against the British pound

in mid-October as AUD underperformed amid broad yield-driven US dollar gains and

GBP found some support on Brexit negotiations. AUD's recovery since then has

been supported by multi-month highs on Australia's commodity prices, encouraging

domestic data and some faltering in sterling sentiment. The coming weeks are

vital for whether a workable Brexit agreement is reached so it is hard to have

confidence in near term AUD performance versus the pound. Failure to compromise

could see a return to GBP 0.57 or AUD 1.75 while positive Brexit news should see

a reversal of the recent AUD gains, though perhaps not as far as the early Oct

levels, given AUD's stronger fundamental support."