UK Budget Due Today and its affect on GBPAUD Exchange Rates (Tom Holian)

Will Sterling Weakness Continue to Help the AUD to GBP Rate Improve?

GBPAUD exchange rates have fallen today following the announcement of the Bank of England minutes which confirmed that UK interest rates were kept on hold at 9-0.

This has seen Sterling falling against the Aussie this morning and with the UK budget due in a few hours we expect to see a large amount of movement on exchange rates later this afternoon.

As Chancellor Osborne announces the various new policies if they are positive expect the Pound to gain against the Australian Dollar.

Friday is likely to be the biggest mover of the week as RBA governor Glenn Stevens addresses the markets and his comments may determine a short-term positive or negative trend.

Personally I think the AUD will weaken following Stevens’ speech on Friday.

If you have a currency transfer to make and want to save money on exchange rates then contact me directly for a free quote. Tom Holian teh@currencies.co.uk