Exchange rates for the Australian Dollar have again reached a recent record high following some excellent unemployment data released this morning. The UK Claimant Count was measured at 7.1% which puts added pressure on the Bank of England to think about changing interest rates sooner than their original forecast.
The suggestion is that the Bank of England does not want to move interest rates until UK unemployment falls below 7% and with UK retail sales the best since 2004 this has sent Sterling higher against the AUD.
If you’ve been reading my articles for some time you’ll know my opinion is that we’ve got further to go on the Sterling vs Australian Dollar so if you’re thinking about selling Australian Dollars it may be worth doing something sooner rather than later.
Tomorrow morning sees the release of Consumer Inflation data for Australia which is a measure of the cost of living and is likely to have an impact on the RBA’s decision as and when to change interest rates.
My feeling is that this could send GBPAUD exchange rates higher than their current price which is trading at its highest level in over 4 years.
If you have a currency transfer to make and want to save money compared to using a bank then contact me directly Tom Holian [email protected]