7th August 2012
The GBP to AUD exchange rate hit a five-month low of 1.4725 before levels of resistance kicked in and it ended the latest US session down 0.2 per cent at 1.4759.
If selling pressure continues then further buying interest may appear at 1.4686 (January 26th low), 1.4618 (February 7th low) and 1.4556 (February 15th low).
Ceilings currently stand at 1.4806 and 1.4862.
The main risk factor in forex trading today (August 7th) was the Reserve Bank of Australia's (RBA) interest rate announcement.
However, investors were expecting the bank to keep rates and 3.5 per cent and it did not disappoint.
RBA governor Glenn Stevens said current inflation data remains consistent with the target and that, coupled with a more "subdued international outlook than was the case a few months ago" meant that the existing stance on monetary policy remained appropriate.
The Australian dollar also peaked at a high of USD 1.0602 - its strongest since March on the rates announcement - before falling back to USD 1.0582.
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