Great Britain Pound and AUD

Great Britain Pound: The Pound opens steady against its U.S. counterpart on Tuesday at 1.5485. In the absence of any economic data releases in the United Kingdom overnight, Sterling traded between a low of 1.5429 and a high of 1.5520. Near-term, the pound is likely to remain under pressure due to the market’s concerns over the U.K.’s fiscal deficit. Meanwhile, the pound is steady against both the Australian Dollar (1.7190) and the New Zealand Dollar (2.2060).

- I expect a range today in the GBP/AUD rate of 1.7100 to 1.7260