Sterling Australian Dollar Exchange Rate Movements (Tom Holian)

AUDGBP Lower as Sterling Gets a Growth Boost

Sterling vs Australian Dollar exchange rates have already seen a huge amount amount of movement since the start of May.

The movement has been caused by a Chinese rate cut, the UK general election and a recent Budget down-under which have all caused volatility on exchange rates.

Next Tuesday sees the release of the RBA minutes which will confirm the reasons for the recent interest rate cut earlier this month.

The rate cut did not have the usual movement of weakening the Australian Dollar as in the weeks prior to the decision the announcement came as no surprise.

However, if the RBA minutes suggest that further rate cuts could occur in the future we could see Australian Dollar weakness.

Tuesday also sees the release of UK inflation data which can often cause big movements for Sterling vs Australian Dollar as it will influence how monetary policy in the UK will be decided in the future.

On Wednesday the Bank of England publishes their own set of minutes which will give us an insight as to how many members wanted to keep rates on hold and how many were in favour of a potential rate hike.

This could see Sterling gaining against the Australian Dollar.

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]