Will the Aussie weaken?

GBP to AUD Steady as Markets Consider BoE and RBA Rate Cuts

The Australian dollar has been on the front foot of late proving tough resistance for a surging pound. Continued interest in the search for yield by investors has kept the Aussie strong as a recent run of good economic data down under and in China. The lack of any major deterioration in international events has also helped the Aussie to remain strong as immediate fears have cooled off.

The next few days is rather interesting for the Aussie as we have a raft of US data including the Latest Minutes of their meeting and Non Farm Payroll data. Investors attitudes to risk could be moved by these releases which may help or indeed hinder the Aussie. On balance I expect the Aussie will be strong and supported so if you need to buy Aussies in the short term, moving sooner might be best.

For more information please contact me Jonathan on jmw@currencies.co.uk