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Forex Trading: GBP/USD, GBP/EUR, GBP/AUD Forecast for September 30

Despite the dollar’s current strength the GBP/USD pairing was fairly high throughout last week but it closed the week down at 1.6245 after reaching a midweek high of 1.6410. Demand for the dollar is high as investors expect the Federal Reserve to raise interest rates early next year.

However, the GBP has remained strong and gained against the EUR throughout last week closing at 1.2810, its highest level since 2012.  But the EUR has been weakening since the President of the ECB said that there may be more policy measures to try and boost inflation in the Euro Zone.

The GBP has also been strengthening against the AUD and was trading as high as 1.8669 on Monday. The AUD has been weakening on the forex markets and is likely to continue doing so until some positive economic data is released in Australia.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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