Sterling and Aussie make gains versus the dollar
GBP/USD and AUD/USD are both rising, shrugging off the news of more tariffs.
GBP/USD
While the GBP/USD pair dropped yesterday it has been able to recover in early trading, raising hopes that the sideways consolidation seen throughout March will resolve into a move higher. In the event of a close above $1.30, the price will have recorded a new higher high. Short-term weakness may head back towards $1.2680.
AUD/USD
AUD/USD shrugged off Wednesday’s weakness and has moved back above $0.63. This reinforces the view that a low is in place and a new attempt to push back to $0.64 is beginning. Sellers would need a close back below $0.6250 to clear recent lows and suggest that a new drop towards the March low is underway.
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