GBP/AUD exchange rate held firm Monday,boosted by easing geopolitical tensions after U.S.-Iran de-escalation. This,plus a steadier UK political scene following Keir Starmer's resignation,has lifted British pound.
Focus now on monetary policy as political,fiscal uncertainties fade. Investors eye this week's U.S. jobs report closely. It's expected to shed light on Federal Reserve's interest rate plans. Report will be crucial for Fed's next steps.
Investor sentiment on UK public finances better now,especially after Andy Burnham vowed to stick to fiscal rules. This helped 10-year gilt yields drop to 4.72% from around 5.2% pre-resignation .
Ahead,several key events loom — U.S. employment report,Federal Reserve Chair Kevin Warsh's speech at ECB conference in Sintra, Portugal. Immediate resistance for GBP/AUD seen at 1.9249,38.2% Fibonacci retracement. A close above could push pair to 1.9306,upper Bollinger Band.
Support at 1.9115,50% Fibonacci level. Break below might send pair down to 1.8994,20-day simple moving average. Analysts suggest buying around 1.9240,stop loss at 1.9180,target 1.9300…
