Sterling vs Australian Dollar exchange rates are getting close to hitting 1.50 again in the run up to the Fed’s interest rate decision due tomorrow evening. Uncertainty in the markets as to what the Fed may do with economic policy means that riskier currencies including the Australian Dollar are feeling a little negativity during today’s trading session. China’s recent slowdown has created a few buying opportunities above 1.50 during April but gains have so far been short lived.
Recession in Spain and a fall in confidence levels across Europe also means that investors are concerned about the potential continued growth in Australia. With the recession due to last until next year in Spain this could have a knock on effect on the value of the Euro and a lack of confidence in global growth.
Tomorrow also sees the release of a lot of data in the US, the world’s leading economy. Employment and mortgage data is due to be released prior to the Fed’s interest rate decision so expect tomorrow to be a day of volatility on the fx markets so if you’re concerned about what to do with your currency requirements then feel free to get in contact with me directly for a free quote Tom Holian [email protected]
I anticipate GBPAUD exchange rates will hit 1.50 during this afternoon’s trading session.
If you have an interest in another currency pair and would like more information please click on our sister website www.eurorateforecast.com which provides more information about what is happening in the Eurozone.