Following news overnight from Australia the Australian Dollar has weakend away a little more and the Sterling – Australian Dollar exchange rate is now once again closing in on 1.70.
The RBA (Reserve Bank of Australia) commented that a weaker Australian Dollar would in fact help to balance the Australian economy which would be a good thing and a stgep back in the right direction.
This does suggest that they are leaving the door open for further rate cuts in the coming months, an interest rate cut is generally seen as negative for a currency and with the markets moving on speculation as well as fact this has created a nice buying opportunity for those looking to buy Australian Dollars.
Tomorrow morning we have key GDP figures for the U.K which are expected to be fairly positive and may give the Pound that final push it needs to get above 1.70.
If you have a currency requirement to either buy or indeed sell Australian Dollars then feel free to contact me directly by emailing [email protected] with a brief explanation of what you are looking to do along with a contac