Aussie Plummets! RBA cut their base rate unexpectedly!

AUDGBP Forecast: Will the Pound Break Past 1.84 Once Again?

The Australian dollar fell overnight owing to the cut in their base interest rate from 2.5% to 2.25% owing to uncertainty as to the Chinese economy and due to the fall in commodity prices. The outlook remains fairly poor for the Australian dollar and I would not be surprised to see further weakness in the future because of this. The global economy has slowed down and we could be in for further shocks which would unsettle market nerves and cause a sell-off on the currency.

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