Australian Dollar standing its ground despite taking a few blows this week (Daniel Wright)

The fall in COVID cases throughout Oz has led to AUDGBP, AUDUSD and AUDEUR rate increasing throughout yesterday’s trading.

The Australian Dollar is still on its feet even though it did take quite a bashing against all major throughout trading last week.

Despite comments from the RBA Governor Stevens that he felt the Australian Dollar was overvalued at present and news from China that we could well see a change in fiscal policies and potentially some stimulation measures to be put into place in the near future.

Chinese data can have quite an impact on the value of the Australian Dollar as they use so many raw materials and import a lot from Australia. The building boom in China has had tongues wagging for a while as to how long it can last and when we may see a slow down over there and it appears it may be coming.

My personal view on the Australian Dollar at present is that there is a much higher chance of it getting weaker over the coming months than stronger, if you are looking to sell Australian Dollars and exchange them into Sterling, Euros or Dollars then it may be prudent to act sooner rather than later, although of course you never know for sure exactly what may happen as a lot of surprises to pop up on the currency markets.

For anyone with an interest in Sterling you may wish to keep a keen eye on the pending Scottish referendum as this could also have a big impact on the Pound in the next 48 hours.

If you do have the need to exchange foreign currency in the near future and you wish to achieve better exchange rates than you are currently being offered either by your broker or bank then it is well worth getting in contact with me (Daniel Wright) directly.

The company I work for has won awards for our rates of exchange and customer service so I would be confident that i would get you more for your money.

Feel free to email me on djw@currencies.co.uk with a brief description of what you are looking to do and a contact number and I will be more than happy to help you personally.