Australian Dollar exchange rates have recently hit their strongest level against Sterling since November 2013 as business down under continues to thrive whilst Europe appears to be slowing down.
Global investors have been searching for higher yields and with Australia’s interest rate currently standing at 2.5% this is why we’ve seen a gradual strengthening over the last few months.
Tomorrow morning sees the release of the RBA interest rate decision so any change or hint of a rate rise could see GBPAUD fall even further. Chinese services sector data is due out on Wednesday which if better that the expected 54.2 we could see further Australian Dollar strength against Sterling. Shortly after this we see the release of Australian GDP which is arguably the most important announcement of the month. With Australia growing at a rate of 3% this could make good reading.
If you’re thinking about taking advantage of these levels and want to save money on exchange rates compared to using your British or Australian bank then feel free to contact me directly for a free quote Tom Holian [email protected]