Chinese stimulus has been announced this month which has caused some strength in AUD, this coupled with slightly higher inflation figures have caused some analysts to change their view on a rate hike on 5th May.
Personally I feel the Australian Dollar gains against Sterling will be short lived, I think an Interest rate cut from the RBA is still on the cards, there is definitely need for stimulus in the Australian economy with non-mining business investment way down. Raw material export has to remain cheap in order for them to still seem attractive to the Chinese.
Hang on until the 5th if you are an AUD buyer, but if there is no movement I would advise moving quickly to avoid the volatility expected from the UK general election.
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