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Westpac note that "the Australian dollar is...>

FOREX: Westpac note that "the Australian dollar is roughly in the middle of its
Q2 ranges against sterling. Looking forward, AUD should find support from the
RBA's optimistic outlook and broadly resilient commodity prices. AUD is also
probably already pricing in ongoing US-China trade tensions. But AUD gains
against the pound should be constrained by the BoE's swing back towards planning
a rate rise, at least so long as UK data holds up ahead of the 2 August MPC
meeting. This suggests multi-week trade is constrained inside a rough range of
AUD/GBP GBP0.5450 (GBP/AUD AUD1.83) to GBP0.57/AUD1.75."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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