Positive US Data helps to strengthen the Australian Dollar (Tom Holian)

Australian Dollar Forecast: AUD Holds Firm Against US Dollar

The Australian Dollar has fought back against Sterling today following some strong data posted in the US. Construction and manufacturing data in the world’s leading economy has helped the US Dollar to strengthen against the Pound by 1% and the same has happened with the GBPAUD exchange rate.

On a currency transfer of AUD$100,000 the difference of £550 in just one day which highlights the importance of using a currency broker rather than simply using a bank. An experienced broker will keep you updated with data releases that may impact your transfer.

Tomorrow evening Fed Chairman Ben Bernanke will give his views on the US economy which could cause a lot of volatility and may provide a short term window for Australian Dollar strength-good for those needing to exchange Australian Dollars into Sterling.

The UK announces Mortgage Approvals at 930am as well as PMI construction so this could also provide some volatility tomorrow morning.

If you want to save money when exchanging currency or would like to compare exchange rates against your current provider then feel free to email me directly Tom Holian teh@currencies.co.uk