Strong US Data see GBPAUD Exchange Rates Fall (Tom Holian)

Australian Dollar Forecast: AUD Holds Firm Against US Dollar

Sterling vs Australian Dollar exchange rates have fallen over the last fortnight following a few positive data releases from Australia.

Earlier in the week Australian Trade Balance data came out a lot better than expected and iron ores prices also saw a rise.

With China a big influence on the Australian economy the increase in iron ore prices is good news for the economy as this means more money is spent in Australia on natural resources.

Also, earlier today the US economy showed an decrease in unemployment from 5.8% to 5.6% which is a good sign for the Australian economy as it means global investors are once again, at least in the short term, placing money in riskier currencies including the Australian Dollar and New Zealand Dollar.

Chinese inflation went up from 1.4% to 1.5% which is good news for China and also good news for Australia.

Therefore, over the last fortnight we have seen GBPAUD rates fall by as much as 3% which is great news for those looking to exchange Australian Dollars into Sterling.

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 teh@currencies.co.uk