Interest Rate Decision 5th May (Daniel Johnson)

Australia Dollar Lower as Victoria Extends Lockdown

It was widely expected that the RBA (Reserve Bank of Australia) were going to drop interest rates at the last  rate decision meeting. I think there is a very strong possibility of a rate drop at the next meeting on 5th May. This is sure to cause substantial Australian Dollar weakness, possibly even breaking the elusive 2.00 mark (GBP/AUD). The interest rate drop would be made to ensure Australia’s  raw materials still seem attractive to the ever growing Chinese. This would be a very opportune moment to purchase AUD.

AUD sellers would be wise to move before the 5th, or there could significant losses.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at [email protected] or call on 01494 787 478 and ask for Daniel Johnson.