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Australian Dollar to Pound Sterling (AUD/GBP) Exchange Rate – ‘Aussie’ softer on tapering uncertainty

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The Australian Dollar is trading softer against the Pound and retreated from a three-month high against the US Dollar after Asian stocks took a tumble and speculation over a possible tapering of the Federal Reserve’s bond buying programme weighed on risk sentiment.

Last week saw the US Central Bank choose to refrain from making a cut to its monetary easing programme which has benefitted the world’s commodity and emerging market currencies. However, comments made overnight in the US by a number of Federal Reserve policy makers has created speculation that a cut could be made at next month’s policy meeting.

“It’s been a down day overall and I suppose you would point the finger at regional equity sentiment which has been fairly negative, essentially taking the lead from Wall Street. There’s a lot of red in the region today.

“There are some nerves, with people still mostly focused on the Fed. We’ve had a flurry of competing Fed officials telling a different story and the market is not very thrilled by the discord they see at the Fed at the moment” said Sean Callow, senior currency strategist at Westpac.

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The ‘Aussie’ also fell against most of its other major peers after stocks in Asia retreated from a four-month high.

“The equity markets opened on a softer foot, and we’re seeing a bit of weakness in the Aussie dollar as some risk comes off the table,” said Jim Vrondas, the Sydney-based chief currency and payment strategist at OzForex Ltd. “I don’t expect it to have a long-lasting effect.”

Current Exchange Australian Dollar (AUD) Rates

The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9390 <

The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6950 <

The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5869

The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.0649 >

The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4387 >

The Pound Sterling /Australian Dollar Exchange Rate is currently in the region of: 1.7038 >

The New Zealand Dollar/Australian Dollar Exchange Rate is currently in the region of: 0.8835 <

Correct as of 10:30 am GMT

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