GBPAUD exchange rates have hit a recent high and are close to a 5 year high this week as comments from various economists are suggesting that Australian interest rates will need to be cut in the future.
With the economy down under slowing recently and Chinese data also slowing down Westpac chief economist Bill Evans believes that the RBA will need to ‘dramatically cut the cash rate in coming months.’
Sterling has been on the rise recently and with the talk of a rate cut this will often weaken the currency are rumours persist.
Goldman Sachs and Deutsche Bank have both called for a rate cut of 0.5% over the next few months to improve domestic demand and therefore weaken the Aussie Dollar against the Pound.
The likelihood for a rate cut could come in as early as February so we could see further Australian Dollar weakness if the rumours continue creating some excellent buying opportunities of Australian Dollars.
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