GBP/AUD and EUR/AUD hit three year highs on RBA interest rate speculation (Mike Vaughan)

AUD GBP Struggles at the 0.5350 Price Level

Australian Dollar exchange rates have fallen dramatically overnight and this morning hitting a three year high for AUD buyers using GBP and EUR. In a speech in Sydney Reserve Bank of Australia governor Glenn Stevens left the door open for a potential rate cut as soon as next week. As aresult the Aussie has fallen in excess of 1.5% against the pound and euro. This could be a great opportunity for anyone buying AUD as we have the UK interest rate decision on Thursday at midday which could hamper the pound recent gains, and should the RBA decide agains cutting rates next Tuesday then these gains could be wiped out very quickly.

Should you have an upcoming exchange to arrange and you would like to discuss the currency service we provide then please get in touch. Our aim is to supply our clients with information to assist them with their money exchange. It is impossible to guarantee the best time to exchange but by giving yourself as much information as possible it puts you in the best position to make an informed decision. Our currency service is geared towards private and corporate clients and simply we are here to get you the best market price we can. To test the service or to get a live quote contact the office on 01494 787478 or email Mike at [email protected] and I will happily discuss current trends and see if I can save you money on your currency transfer.

Email Mike to get the best deal on your foreign exchange [email protected]