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 dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.
