The Australian Dollar has today gained against the pound, US Dollar and Euro after the Reserve bank of Australia released their minutes from the last interest rate decision. There was nothing new in respect of future policy but they did state they were becoming more satisfied with most sectors of the economy down under except unemployment which has recently risen but they did leave the door open for future interest rate hikes which has caused the AUD to strengthen by 0.25% against the Euro, 0.16% against the USD and the biggest gain has been against the pound by 0.68% If you are selling the AUD and are looking at capitalising on this gain as it is an attractive time to be selling the AUD you may email myself Ben Amrany at [email protected].
The reason there has been such a big gain against the pound was because in the UK we learnt this morning that all the inflation figures have continued to fall. This is negative for sterling as it gives the Bank of England more scope in not having to raise interest rates sooner. Interest rates are one of the biggest factors in what effects the exchange rates and inflation is a big factor on when interest rates may go up. The sooner interest rates rise the stronger the pound should be (theoretically speaking) We are not expecting interest rates to go up before next year now but tomorrow we will learn if any members of the Bank of England voted for a change in interest rate policy. Now should just one member of the central bank vote for interest rates to rise then we may see the pound recover today’s losses. If no members have voted for a rate hike then the pound could continue to weaken effecting your currency purchase.
If you are looking at buying or selling the Australian Dollar against the pound, Euro or US Dollar then you may wish to contact us to see if we can help make you a saving on your exchange. Our rates can be up to 4% better than the banks in the UK, Europe and Australia and recently we have been assisting more and more clients from our website making them a significant saving on their exchange.
If you would like to speak with myself Ben Amrany regarding your requirement you may email me at [email protected] with your requirement and contact details and I will explain the options available to you.
Thank you for reading.