Where next for GBPAUD Rates? (Tom Holian)

AUDGBP Makes Back Some Lost Ground From Last Week

GBPAUD exchange rates have had a good week even with some negative UK Retail Sales data out yesterday.

It has been widely anticipated recently that the RBA may cut interest rates at their meeting due in early May which could cause the Aussie Dollar to weaken against Sterling if this does happen.

At the meeting earlier this month the RBA decided to keep rates on hold which saw a huge movement in the favour of the Aussie Dollar vs Sterling as it surprised markets.

Only 2 weeks ago 26 out of 26 economists, surveyed by Bloomberg, tipped rates to fall by 25 basis points to 2 per cent in May.

With the UK general election due in less than 2 weeks the chances are that we will see another hung parliament which could cause uncertainty for GBPAUD exchange rates over the next fortnight.

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