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Posted 11/11/2009 6:31:00 PM [GBP/AUD] opened in Asia at the 1.7985 and the pair kept a biddish
tone for most of the session as a number of strong USD rhetoric from World
Bank Robert Zoellick and US Treasury Sec Tim Geithner affected the Aud/Usd
more than the Gbp/Usd. The pair eventually reached the day's high of
1.8035 in late Asian & early European trade. However, the GBP took a
pounding after BOE Gov King said during the news conference that a weak
pound would help the UK economy, mainly in the effort to rebalance its
ever-widening trade deficit and that the central bank is "completely open
mind" on extension of the quantitative easing program. That sent the pair
plunging to an o/n low of 1.7840 before easing further to open this
morning at 1.7810 ahead of the Aust jobs data due at 00.30 GMT. Buying
orders at 1.7700 and selling orders at 1.7980 will keep the range ahead of
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