Tuesday 10/12/2024

John Hall • December 10, 2024

Daily Update 10/12/2024

Key Headlines:

Will GBPEUR surpass its previous highs?
GBPAUD returns to its 2024 peak levels.

Recap

Commodity currencies surged yesterday as Chinese stimulus measures lifted global risk sentiment. The improved outlook also supported GBP, with GBPEUR testing its 2024 high once again and GBPUSD aiming for fresh one-month highs.

Today’s Rates

Today's Interbank Rates at 09:38 am against GBP movement.

GBP>EUR – 1.2101

GBP>USD – 1.2745

EUR>GBP – 0.8262

EUR>USD – 1.0533

GBP>CAD – 1.8068

GBP>AUD – 1.9929

GBP>SEK – 13.949

GBP>AED – 4.6809

GBP>HKD – 9.9130

GBP>ZAR – 22.746

GBP>CHF – 1.1217

GBP>PLN – 5.1617

Today’s Key Takeaways

The AUD is under pressure following a dovish Reserve Bank of Australia (RBA) meeting.
The RBA kept rates steady at 4.35%, expressing confidence in inflation trending towards its target.
GBPAUD has climbed back to its earlier 2024 highs.
An empty economic calendar for the rest of the day suggests rangebound trading, except for GBPEUR.
GBPEUR is trading near its 2024 peak, with the potential for an upside breakout.

10th December 2024

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