Market Update – 22nd June 2018 – ASX200 Surpasses 2007 High & Bank Of England Inching Towards Rate Hike

The Bank of England last night chose to keep interest rates on hold at 0.5%, which was no surprise and inline with predictions. However what’s interesting is that in their voting system, which provides insight into who voted for what and why, showed a third member of the seven member board is now interested in a rate hike, one more than had been the case previous. Odds are therefore increasing that we could see a rate hike from the Bank of England sooner rather than later which should continue to support the GBP. AUD/GBP has been tracking lower over the month and is now around two cents off the high we saw in early June around 0.5750.

In other news U.S and European stock markets retreated with commodities. Our Aussie share market has however bucked that trend over the last few days with the ASX200 managing to finally surpass the 2007 high – it only took 11 years. Have a great weekend!


AUD/USD – 0.7374

AUD/GBP – 0.5567

AUD/EUR – 0.6353

AUD/NZD – 1.0736

AUD/JPY – 81.048

USD/BTC – $6,680


All Ords (XAO) – 6,332

Gold – A$1718/oz

Silver –  A$22.15/oz

WTI – US$65.86/barrel


All – OPEC Meetings

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 




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