For quite some time I have been suggesting that it is only a matter of time before the Pound rallies again vs the Australian Dollar as the UK economy has recently shown growth of 3.2% whilst the economy down under has started to show signs of a slowdown.
Chinese data in the form of Trade Balance and Exports is due on early Monday morning so any negative news could see GBPAUD exchange rates hit 1.85+
With the IMF having downgraded global growth forecasts this has led to investors selling riskier currencies including the AUD, NZD & ZAR. With the RBA also confirming that interest rates will be kept on hold this had led to AUD weakness and Sterling hitting 1.84. The RBA releases its minutes on Tuesday morning so we could see AUD continue to weaken if an interest rate rise has been pushed further back.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]currencies.co.uk