AUD exchange rates near 1.50……

Australian Dollar Flat Versus the Pound as Support Hints of a Potential Bounce

Australian Dollar exchange rates have strengthened over night and pushed towards 1.50 against the pound and below 1.05 against the US dollar. Today is a relatively quiet day but anyone with an interest in the Aussie should watch out for US GDP data released tomorrow afternoon (13:30 GMT) as this may well shift investor confidence and hence a shift in AUD demand. With the US being a global barometer for world growth these figures will be keenly viewed by investors and may drive investor confidence either way. In theory if the figures are as expected or better then this should give a boost to investors and you may see a drive towards riskier currencies such as the Australian Dollar, if figures are worse then expected then you could see the reverse. For this reason tomorrow in particular could prove a volatile day on the currency markets.

Should you have a currency requirement involving the Australian Dollar and you would like to receive further market analysis and forecast then please do contact the office on 01494 787478. As a specialist forex broker we are here to assist private and corporate clients alike when it comes to timing their exchange. Since the turn of the year the AUD has gained over 4% against the pound. This makes a significant difference on your money transfer, for this reason being in regular contact with your broker and letting them be your eyes and ears on the market allows you to take control of your exchange, something that could save you thousands. Should you wish to discuss the market in more detail and to see what rates of exchange we can offer you then please email Mike at mgv@currencies.co.uk