As we come to the end of the month July has been relatively stable period for GBPAUD exchange rates compared to the previous three months which saw the Aussie Dollar massively weaken. This week has started off slowly in terms of currency movement but Thursday is likely to provide us with some exchange rate volatility as interest rate and QE discussion take place.
Three of the world’s largest central banks will be meeting to discuss what to do with interest rates so expect to see some large movements for Aussie exchange rates as investors decide where to deposit their funds. With rumours of an interest rate cut down under towards the end of the year I expect to see Aussie Dollar weaken in the longer term but expect to see some large movements during this week so if you’re thinking about making a currency transfer and want to save money when converting Australian Dollars then feel free to contact me directly for a free quote. Tom Holian [email protected]