Aussie Dollar starts its recovery. But will it U turn again? (Ben Amrany)

AUDGBP Braces for an Important Week of Data

After the Aussie Dollar significantly weakened over the last month it is slowly starting to recover against the pound with a rise for the Aussie of 2.63% at present. The rate is still a long way off from getting back down to the 1.50 level but a movement from 1.6880 down to 1.64 I feel should be taken advantage of if you are selling AUD to buy the pound. If you would like to discuss yoru requirement please feel free to email me at [email protected]

With Australia’s former leader Kevin Rudd  returning to the head of the Labour Party in the recent leadership ballot this seemed to gove some relief to the currency. With a general election in September fast approaching you may find the political uncertainty coupled with a potential further rate cut down under may help the pound rise once again to the 2 year high we recently saw. The next rate meeting in Australia is next Tuesday and with many analysts predicting that the RBA will look at cutting interest rates again we may see the Aussie weaken once more.

There is always the flip side to things and if the markets are expecting a rate cut and it is held then the AUD may look at strengtheining slightly. One other thing to be cautious of is events in China and the US. If global confidence rises then you could find the Dollar strengthen on the back of investor sentiment.

If you are looking at buying or selling the Aussie Dollar and would like to know more about the rates that we offer then please feel free contact me at [email protected] I offer all of my clients a very personal service and if I know what your requirement is I can explain the options that may be suitable for your own specific circumstances.

Thank you for reading.

Ben Amrany

[email protected]