The pound has had a very rocky finish to January, with the Australian Dollar weakening nearly 10 cents in 10 days! Next week has the potential to be even rockier, as the Reserve Bank of Australia meet for the first time in 2015 to discuss on-going financial policy.
The Australian Dollar is also weakening as a result of poor commodity prices (including Iron Ore and Oil). I personally feel that AUD could be in for quite a major swing next week as there is a good chance an expectation that an interest rate cut has been priced / factored in to current exchange rate levels. Could next week be the time that we see 2 AUD to th Pound??
If you have an exchange requirement, please feel to contact me from, 08:30 UK time Monday morning on 01494 787 478. Please ask for Andrew Bromley on the Australian Dollar desk. If you’d rather, please feel free to email me directly AJB@currencies.co.uk
Have a good weekend!