UK Bank Holiday Monday So Watch Out For The RBA Minutes

With UK markets closed on Monday it is important to note that the RBA minutes come out in the early hours of Tuesday morning before the UK is open for business again.  The Aussie has had a slight retraction of late as expected because clearly the RBA were concerned about how much the AUD had strengthened in such a short period of time since they halted their current cycle of rate cuts.  The Euro and USD have also gained slightly as a result, however I don’t expect the Aussie to collapse again.  UK data of late has been very good and I think the currency pair will now settle in the early 1.80’s for a while (assuming their are no clangers in the minutes) whilst markets work out which way both economies are heading and how quickly.  Current levels represent a reasonably good buying opportunity to me so if you are transferring money to Australia and want to get the best exchange rate feel free to get in touch by emailing me, Colm, at cmg@currencies.co.uk and I would be happy to explain how our services work.