GBP/AUD

GBP/AUD: The pound opens lower today at 1.5430 after Bank of England Governor Mervyn King said officials would do “whatever seems appropriate” to prevent a relapse in the UK economy. Sterling fell from an intraday high of 1.5574 down to a low of 1.5394 as the governor’s comments signalled to the market that the central bank may expand its 200 billion-pound bond buying program. Meanwhile, the pound has outperformed its antipodean rivals overnight and opens higher against the Australian Dollar (1.7320) and the New Zealand Dollar (2.2290).

- I expect a range today in the GBP/AUD rate of 1.7280 to 1.7375