Foreign Currency Market Update – GBP / AUD Update

Sterling has been in the doldrums the last couple of weeks, treading water against the Euro which has problems of its own, but losing ground against most other currencies, most notably the Australian dollar. On the economic front inflation remains stubbornly above the Bank of England’s target at 3.3%, and one survey showed that consumers are expecting a further increase in the rate of price rises in 2011.