GBPAUD exchange rates have soared over the last few days and tipped past 1.84 following the recent comments from RBA deputy governor Philip Lowe.
The Australian Dollar fell by over 1% against Sterling as Lowe suggested that he thinks the AUD will decline alongside commodity prices and this could indeed result in an interest rate cut in the longer term.
Lowe said a weaker AUD could help the Australian economy and these comments could weaken the currency even further.
I think we’ll see the current trend continue this week so if you have a requirement to buy Australian Dollars it may be worth getting things organised over the next few days.
This morning the UK releases its own set of GDP figures at 930am. Expectations are for 0.7% so no change could keep the Pound strong.
Any variation could see a small amount of volatility but I don’t think we’ll see any hidden surprises.
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]