Australian dollar rates weaken against rising pound

Australian Dollar Remains Resilient Despite Unemployment

The Aussie has weakened as the pound strengthens against it following much better indications of a No vote in the Scottish referendum. Sterling has been very susceptible to weakness on the back of indications the Scottish people may vote Yes in the upcoming independence decider.

On the whole I think post people expect that the No comp will prevail but this is certainly leading to uncertainty and the pound has been swinging up to 1% a day against the Aussie this week, this is something to consider if you need to buy or sell AUD soon. Next Thursday is the date of the referendum and I would expect many more volatile days before that day, the Thursday should be a fairly interesting day itself too.

If you need to buy or sell AUD with sterling I would be preparing for this release and taking stock of the current uncertainty and any possible opportunities this may present. For more information please contact me Jonathan on jmw@currencies.co.uk