Will the Reserve Bank of Australia cut interest rates this week?

Will AUDAUD to GBP Slips as Australian States Tighten Borders to USD Retest the All-Time Lows?

Since the beginning of 2012 we have seen the RBA cut interest rates on three occasions in order to boost the economy, which has had a mixed period this year. With the Australian economy heavily reliant on what happens in China and their growth, which has averaged 10% for the last 30 years, the mining industry has boomed whist the rest of the economy has experienced problems. With GBPAUD exchange rates trading around the 1.50-1.53 range for most of November any cut in interest rates could see exchange rates improve towards the next level of resistance at 1.55. The RBA interest rate decision is due on Thursday so if you have a currency requirement it may be worth closely monitoring what happens. Owing to the time difference much of the movement can occur overnight so speak with your experienced currency broker who can explain the benefits of utilizing stops and limit order which can be triggered overnight to help you achieve your desired rate. If you do not already use a currency broker feel free to contact me directly with any questions you ma have about the process and I’ll happily get in touch Tom Holian [email protected]