Will the pound to australian dollar rate rise this year ? 1.95 is c**p?

Question

Will the pound to australian dollar rate rise this year ? 1.95 is c**p?

Answer 1

The Pound Australian Dollar exchange rate is 0.453% lower with 1 GBP = 1.6001 AUD. The Pound and the Australian dollar are in a stalemate at present with factors weighing in favor of both currencies. The technical outlook is mixed. Sterling is still defending the 1.58 level, but is having trouble making progress above 1.62. According to an exchange rate analyst of Australia “we are effectively stuck in a holding pattern until one of these levels is decisively breached”. With regards to the GBP, foreign exchange investors were more focused on the inflation and interest rate theme, which has seen expectations for a rate hike build over recent weeks as inflation remains stubbornly high. House prices were up 0.3% in February according to Nationwide, slightly ahead of the 0.2% expected. Construction activity as measured by the Purchasing Managers Index increased more than expected. Meanwhile the Reserve Bank of Australia kept interest rates on hold at 4.75% as expected on Tuesday. January retail sales grew 0.4% on the month, slightly ahead of expectations, and GDP growth for the fourth quarter was also slightly ahead of estimates at 0.7%. The nation's trade surplus for January again exceeded the expected $1.56bn to come in at $1.87bn.