Sterling – Australian Dollar hovering around 1.70 – Which way will it go?

AUDGBP Higher on ‘Truly Remarkable’ Jobs Rebound

The GBP/AUD exchange rate has stayed fairly stable at around 1.70 of late whith the market seemingly undecided on where to head next.

Tomorrow night has the potenital to really move the markets as we have the Federal Reserve interest rate decision over in the States.

No change to interest rates is expected however the key point of focus will be whether or not the Federal Reserve move forward with tapering their QE (Quantitative Easing) plan.

Should the Fed move forward with slowing down QE then global attitude to risk may increase and the Australian Dollar could strengthen as it could be seen as a positive for the world economy as a whole however should the recent negative data that we have seen coming out from the states make the Fed think twice then we may see quite the reverse.

Tomorrow morning we have the Bank of England minutes which have the potential to shift exchange rates too however I would be surprised to see anything major come from this release.

If you have a pending currency transfer to carry out and you want to receive the very best rates of exchange then feel free to get in contact with me directly by email on [email protected] and I will be more than happy to help you.