Australian Dollar Strength as ECB confirms QE (Tom Holian)

AUDGBP Bounce Fails to Top the 0.5500 Level

In what has been an interesting last few days in the global currency markets the European Central Bank has finally confirmed their level of QE.

The amount has been put in place of EUR60bn per month until September 2016 with the option to continue if the markets need it.

The good news for the Australian Dollar exchange rate is that this encouraged investors to seek riskier currencies again which helped to strengthen the Aussie vs Sterling.

The next risk for global politics will be the Greek elections due to take place on Sunday 25th. The Syriza party is very anti-IMF and anti-EU bailout so if they gain power they are likely yo challenge the current bailout package which is not good news for the Eurozone.

The uncertainty surrounding the election could cause a sell off from the Australian Dollar.

Tomorrow the UK releases Retail Sales and if the Christmas period was positive we could see early Sterling gains in the morning vs the AUD.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]