The Australian Dollar has been weakening against a host of the majors after the Reserve Bank of Australia kept interest rates on hold a couple of days ago and last night their latest trade balance figures tipped GBP/AUD up into the late 1.81’s spiking at 1.8177. There was a severe weakening in the trade deficit and recent comments by the RBA Governor Glenn Stevens stating that it is unlikely we will see any further movement in the base rate of interest in the near term has caused the AUD to slide.
Looking forward it still seems unlikely we will see the pound rise to the highs of the year which spiked over 1.90 but I do not expect to see the rate fall below 1.80. If you are looking at buying or selling the AUD and would like to make a saving on your currency exchange by achieving a better rate than what the banks in the UK and Australia would offer then please feel free to contact myself Ben Amrany at [email protected] I will explain the service we can provide and all teh options available to you in securing an attractive rate of exchange.
Thank you for reading