May 24, 2016. The GBP is the strongest. The AUD is the weakest.
The snapshot of the strongest and weakest currencies shows a like for the GBP and dislike for the AUD (on a relative basis).
The GBP started to rally before the testimony of BOE officials during their quarterly Inflation Report. The EURGBP led the way as it tumbled below the 100 hour MA on the back of some steady selling.
The AUD has been moving lower in steady fashion for most of the day. The AUDUSD kept under the 100 hour AND 100 day MA yesterday and that has helped keep the pressure on the pair.
The GBP pairs enjoy the largest trading ranges and have also surpassed their 22-day average ranges (about a month of trading). The EURUSD lags behind but is trading near low levels as the pressure remains on the EURGBP. That pair trades at the lowest level since February as it is trades below the March 2016 low of 0.7651 (currently trading at 0.7645).
