Commodity currencies led the charge stronger yesterday after Chinese stimulus plans boosted global risk sentiment.
GBP also benefitted from the improved risk sentiment with GBPEUR having another go at the 2024 high and GBPUSD attempting to make new one-month highs.
*Daily move - against G10 rates at 7:30am, 10.12.24
** Indicative rates - interbank rates at 7:30am, 10.12.24
AUD is on the back foot again following a dovish Reserve Bank of Australia (RBA) meeting this morning. Whilst they held rates at 4.35%, the board stated that they feel confident that inflation is moving towards its target. As a result, GBPAUD is once again trading at the highs from earlier this year.
For the rest of the day, the calendar is empty and we expect some fairly rangebound trading apart from GBPEUR where once again the pair is trading near this year's peak levels and we are wary of the pair breaking to the upside.
Our team of currency experts are here to help you get more from your money when making international payments. We will work with you to understand your payment needs and offer specialised guidance on the best options available to you. Over the last 19 years we’ve helped over a million customers and last year alone processed over £12bn. We’re tried and trusted, and we’re ready to help you.Have a great day.
