Sterling fell against the Australian Dollar towards the end of last week after the Chinese published some strong GDP data. Rates were above 1.83 at their highest levels but has since fallen back into the 1.81 territory.
RBA governor Glenn Stevens is due to speak on Monday and depending on his comments we could see further Australian Dollar strength if he talks up the economy down under. Inflation data is also released on early Wednesday morning and if high could put pressure on the RBA to think about raising rates in the longer term which could strengthen the AUD.
The key day for anyone with a GBPAUD currency requirement will be Wednesday as there are a whole host of data releases including Australian inflation predicted to come out at 2.9%. Turning the focus on to the UK we see the announcement of the Bank of England minutes.
The expectation will be for a 9-0 vote against any change so if one member has voted for a rate hike we could see Sterling claw back some ground lost last week
Thursday see the release of UK retail sales which are a key market mover for Sterling exchange rates. Year on year is expected to be 3.9% so anything different could cause volatility for GBPAUD exchange rates.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank in the UK or Australia then contact me directly for a free quote. Tom Holian [email protected]