Australian Dollar Fights back against Sterling (Tom Holian)

Australia Dollar Lower as Victoria Extends Lockdown

The Australian Dollar has recovered by 2 cents from the high to low after getting close to hitting 2 recently.

The Aussie Dollar has strengthened owing to the fact that the stock market rose to its highest close since the global financial crisis.

GBPAUD exchange rates have experienced a huge rise in recent weeks following the interest rate cut by the Reserve Bank of Australia and the problems facing current PM Tony Abbott.

With the Greek issue not yet fully resolved although they have been granted a 4 month extension global investors are still unsure what to do with their funds.

As a riskier currency the AUD is often negatively affected by global instability in the financial markets which is another reason for the recent weakening.

The ECB president Mario Draghi is due to speak tomorrow which could cause volatility for GBPAUD rates as the main focus will clearly be on the Greek debt.

If you have a currency transfer to make and want to save money on your currency transfer compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]