The GBP to AUD Exchange Rate was little changed on Monday as investors widely ignored increasing tensions in Ukraine and looked ahead to Tuesday’s release of the latest Reserve Bank of Australia policy meeting minutes.
The Pound was trading slightly firmer at the start of the session after the UK currency found support from yesterday’s house price data. According to the data released by Rightmove, house prices in the UK advanced by 2.6% month-on-month in April and leapt by 7.3% on a yearly basis.
Tuesday will see the publication of the latest policy meeting minutes out of the Australian Central Bank.
“The Australian Dollar has shown some remarkable resilience in the face of the sell offs witnessed in US equities. An upbeat tone regarding the domestic economy from the RBA would further the view that a period of stability is required for interest rates, which in turn may offer support to the currency,” said a market analyst at FXCM.
The currency could come under pressure if the situation in Ukraine escalates. A deadline issued by the Ukrainian government for pro-Russian gunmen to surrender in the east of the country has passed and the world is watching to see what will happen. Russia has warned over the use of force and with up to 40,000 troops amassed on the border the situation could quickly deteriorate.
The AUD/USD is little changed so far and trade is expected to be light until Tuesday.
Australian Dollar (AUD) Exchange Rates
[table width=”100%” colwidth=”50|50|50|50|50″ colalign=”left|left|left|left|left”]
Currency, ,Currency,Rate ,
Australian Dollar,
,US Dollar,0.9394 ,
Australian Dollar,,Pound Sterling,0.5619 ,
Australian Dollar,,Euro,0.6783 ,
Australian Dollar,,New Zealand Dollar,1.0860 ,
[/table]
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