It's not just GBP that's taken a bit of a pounding today 23 Jan
AUDUSD failed above 0.8030 again as I've highlighted previously today but the retreat has gained momentum with Chinese tax plans suggesting concerns over the Chinese economy among reasons causing the wobble. US imposition of 30% solar tax not helping either.
Currently 0.7971 after lows of 0.7957. Demand/support around 0.7950 providing a base so far
RBA won't be too unhappy about the retreat but it's early days to comfortably say we've seen the top as USD fragility continues.
As much as we can expect GBP to find dip demand so can we expect AUD buyers to continue lurking too.
