Sterling Australian Dollar testing resistance levels (Tom Holian)

AUDGBP Slumps Despite a Surge in Employment

Sterling vs Australian Dollar exchange rates have ended the week on a high trading above 1.98 before falling back into the 1.97 territory as Sterling struggles to push past resistance levels.

Sterling has had a good week against the AUD as it was announced earlier this week that Eurozone QE will be ramped up for the next couple of months.

This means that investors are less inclined to move money into riskier currencies which has seen AUD, NZD & ZAR weakness vs Sterling.

Data releases will be few and far between next week as the month draws to a close. However, on Tuesday there is quite a lot of US data due out which can often impact on Sterling Australian Dollar exchange rates.

My personal suspicion is that we’ll see a small amount of upside for Sterling but owing to the current levels just short of 2 on the mid-market level I don’t think we’ll see further gains as there is not enough data due out to give it the lift it needs.

Therefore, 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]