Will Aussie Weakness persist?

Will Sterling Weakness Continue to Help the AUD to GBP Rate Improve?

The Aussie dollar has fallen down to lower levels due to the Unemployment data Thursday showing a surprise increase in Unemployment down under. The expectation had been for levels to remain firm at 6.0% but the release showed 6.4% which makes a big difference. The expectations have now changed on the Australian dollar as we had previously expected an accommodating stance by the RBA (Reserve Bank of Australia) but if Unemployment is spiking like this it will put pressure on the RBA to take some action, possibly some easing measures including cutting interest rates.

For more information on the AUD forecast please contact me directly on jmw@currencies.co.uk