Aussie Plummets! RBA cut their base rate unexpectedly!

AUD to GBP Quiet as Traders Wait for Data Releases

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.

If you wish to make any exchanges in the future involving the Australian dollar please contact me Jonathan on [email protected] for more information on the best exchange rates.