Sterling up against the Australian Dollar (Tom Holian)

AUDGBP Higher Despite Wage Subsidy Job Losses

Sterling Australian Dollar exchange rates have had a good end to the week trading above 1.96 on the mid-market levels as investors anticipate what may be announced with the RBA minutes due out on Tuesday.

With the recent rate cut down under any suggestions that more rate cuts could happen in the future are likely to see Australian Dollar weakness following the announcement.

Australian Dollar exchange rates are also heavily influenced by what happens in the US and with recent data announcements in the world’s leading economy a bit lower than expected this has also seen the Australian Dollar weaken against the Pound creating some excellent buying opportunities.

On Tuesday the UK also releases inflation data so if lower than expected could see Sterling fall briefly against the Aussie however I think this will be short lived and I expect Sterling to rise against the Australian Dollar this week.

The AUD is also heavily reliant on what happens in China and with a recent rate cut this has also led to the AUD weakening vs the Pound.

If you have a currency transfer to make and want to save money on exchange rates compered to using your own bank then contact me directly for a free quote. Tom Holian [email protected]