GBPAUD exchange rates began the week with a fall but on Wednesday we saw an increase of 3 cents from the high to low as fears escalate within Europe that Greece will have problems with their current debt arrangements.
As the uncertainty continues this caused a huge sell off for the Australian Dollar, New Zealand Dollar and the South African Rand which are all commodity linked.
The Greek economy was also downgraded again which has caused a loss of confidence for global investors.
Next week could be difficult for the Australian Dollar with the release of the RBA minutes on Tuesday.
At the previous meeting they decided to keep interest rates on hold down under and the minutes will give us an insight as to whether they may cut rates at their next meeting in early May.
Inflation data in Australia is announced on Wednesday and if the figures come in lower than expected this could cause the Australian Dollar to weaken providing some excellent opportunities to buy Australian Dollars on Wednesday.
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]