With the Australian dollar outpacing its New Zealand counterpart since mid-February, GBPAUD has been playing catch up to GBPNZD. While both crosses have suffered considerable losses since September of last year, GBPAUD has had to bear the brunt of it over the last two months. But the tide may be turning. What used to be a short-term GBPNZD rally followed by a weak if not muted bullish move by GBPAUD is becoming the opposite. In fact, the latter has climbed more than 900 pips in the last two weeks alone. This recent change poses an important question – is this the start of the next leg higher following the massive ... (full story)