Great Britain Pound and Australian Dollar

Great Britain Pound: Pound Sterling opens sharply lower on Monday at 1.5470 after weak local economic data and a surprise 25 basis point rate hike in the United States. Sterling hit a nine-month low on Friday at 1.5342 after British retail sales fell 1.2 per cent in January, more than twice as much?as economists forecast. Also putting the pound under pressure was last weeks Bank of England downward revision of economic growth. Meanwhile, the pound opens lower against both the Australian Dollar (1.7180) and the New Zealand dollar (2.2080).

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