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More Hawkish Rhetoric From RBA Boosts Australian Dollar

10/16/09 by Daily Forex Snapshots  
Filed under Forex & Futures

   

G10 Advancers and Decliners vs USD GBP 0.20 EUR -0.33 CHF -0.36 JPY -0.38

GBP has continued to outperform this morning (GBPUSD 1.6355, EURGBP 0.9125) on a combination of chatter regarding M&A activity and rumours that the BoE will not be increasing QE in November. GBP-crosses have looked oversold for some time now, and this correction has brought us within reach of some key technical levels; the high so far in GBPUSD has been 1.6400, a break of 1.6468 opens up next…

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