GBPAUD rates have fallen today by almost 3 cents following the news that the Swiss National Bank decided to end its pegging of the Euro Swiss Franc exchange rate.
This sent global markets into free fall and this helped to strengthen the Australian Dollar against the Pound during today’s trading session.
Overnight we also saw the release of the Australian unemployment figures which were much better than expected coming out at 6.1% compared to the expectation of 6.3%.
This shows that the Australian economy is still looking relatively strong and the news came as a big surprise to many.
With copper prices having fallen earlier this week we saw the AUD weaken but the strong news from the jobs market helped to give the AUD strength against Sterling hitting its best level for a few weeks.
Following the news about the Swiss National Bank I think we’re in for a huge amount of volatility for GBPAUD exchange rates over the next few days so it is important if you have a requirement to get in touch.
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]