Sterling Australian Dollar rates steady – Where do they head next?

The Pound has had a stable week against the Australian Dollar following the initial charge we saw as the Chinese economy has slowly started to slow down

China is a major factor in the strength of the Australian Dollar these days as it as it has been a huge assistance to the performance of the Australian Economy being a major trading partner and having a huge impact on the mining sector through these troubled times globally.

Also, there appears to be a fairly imminent interest rate cut due in Australia which one would imagine may lead to weakness again for the AUD and may push rates up to the next level. An interest rate cut is generally seen as negative for the currency concerned and a rate hike positive, and the fact the interest rates over in Australia have been high over the past two years is another reason the AUD has remained strong.

Personally, I would no0t be surprised to see rates creep up towards the 1.60 mark before the end of the month is GDP figures for the U.K are positive and no other spanners are thrown into the works.

If you have a currency requirement be it large or small and want to get the best exchange rates for your transfer along with me on your side as an expert in this market, email me directly quoting Australian Dollar Forecast as your subject heading on djw@currencies.co.uk