AUDGBP Bounces as Australia Deals with Floods

Released overnight the recent will be  Glenn Stevens Speech. The decision to cut interest rates last month was based on weaker than expected economic data and an expectation that unemployment would peak higher than originally forecast. The RBA also stated it is still targeting a weaker AUD to help boost their exports. The Aussie has strengthened a little as the RBA have not highlighted a further cut next month as some had expected.

Moving forward it would seem likely the Aussie will come under further selling pressures so if you need to buy or sell AUD please get in touch on [email protected]