So the Aussie interest rate decision came and went with no movement on the base rate of interest and basically no surprises really sprung up.
The RBA stated that the global economy was improving, with China progressing. Commodity prices had improved, though GDP growth would be below trend this year. Inflation was in line with targets, which allows for “an accommodating stance” in future.
The RBA added that the Aussie Dollar remained at higher than expected levels. After the decision and due to the last comment the Australian Dollar did weaken sharply but has now recovered most of its losses against the pound. It weakened after the decision to 1.5187 but has now moved back down to 1.5046.
Looking forward I feel that the RBA would happy to see the AUD weaken slightly and if there is a future rate cut then that may just help the pound to start to gain.
If you are in need of buying or selling the Australian Dollar please feel free to email me at [email protected] as we will try and beat any rate you are offered by banks here in the UK and Australia plus any previous currency broker you have used for transfers in the past.