Sterling vs Australian Dollar improved by over 2 cents on Friday as Bank of England governor Mark Carney suggested that the next move for UK interest rates could be a rise.
This saw the best exchange rate for buying Australian Dollars in the last couple of weeks after the recent falls for the Pound.
On Wednesday the Reserve Bank of Australia published its Financial Stability Review which suggested that even though the property market down under has reached record levels the RBA is still open to cutting interest rates to spur the economy and make its exports more competitive.
Next week the UK publishes GDP data with expectations for 2.7%. With UK retail sales last week showing year on year of 5.7% I think the GDP on Tuesday could be very good for the UK providing excellent opportunities to buy Australian Dollars.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]