The Pound and Australian Dollar have been locked in a battle so far this week, with neither looking to budge at present.
There are two factors that may well have an effect on the exchange rates today. First and foremost we have Governor of the Bank of England Mark Carney speaking at around 12:15pm. Investors will be hanging off of his every word and any hints to future economic policy could lead top a volatile period, if he should repeat his stance on no interest rate change for the foreseeable future like he mentioned last week then we may see Sterling weakness around lunchtime.
Later on this evening we have the Federal Reserve interest rate decision due out at 19:00pm U.K time. Although this is for the States, information released from this can have an affect on global attitude to risk, which can impact currencies such as the Australian Dollar quite considerably.
I am still of the thinking that I believe the Australian Dollar may be in for a tough year ahead against most major currencies and I would not be surprised to be achieving 2 Australian Dollars to the Pound at some point in the coming months.
If you are looking at buying or selling Australian Dollars in the near future and you want to achieve the very best rates of exchange for your transfer then it may be prudent to get in touch with me directly and i will be more than happy to help you. You can email me on [email protected] and I will ensure I get in touch personally to discuss your requirements and help you put together a plan of action regarding exchange rates.