Interest rates a non event for GBP/AUD (Ben Amrany)

AUD to GBP Higher as Market Weighs UK Budget

As expected the RBA left interest rates unchanged at 2.5% and did not cause to much volatility for the AUD at the time of the release against the pound. There were no comments regarding the strength of the currency and eyes will now turn to the job numbers out tomorrow. If on Wednesday evening there is a drop in unemployment we may find that GBP/AUD heads back towards 1.80. If there are more people out of work I would target 1.83 and look to capitalise on this still very attractive buying AUD rate.

In the UK we will also release our interest rate decision for May on Thursday. No movement is expected but with the recent news that UK unemployment has dropped below 7% some may feel an interest rate rise is around the corner.  It will be the minutes in two weeks time when we learn if any members of the MPC have voted for a rate hike. Something to keep an eye out for later in the month. On Friday UK manufacturing production and trade balance figures will cause some volatility on the day  but I still feel that GBP/AUD will be range bound between 1.80 to 1.83.

If you require a money exchange repatriating funds around the globe we offer a very personal service to help you try and time your exchange while saving you money by offering you a better rate than the banks. if you would like to discuss your requirement in more detail please feel free to contact myself Ben Amrany at [email protected] 

Thank you for reading.

Ben Amrany

[email protected]