Sterling Australian Dollar exchange rates have hit their best levels in 6 years as predicted recently.
If you’ve been reading my previous articles I have been saying for a while now that I expect Sterling AUD rates to hit 2 and break through as soon as there is enough data to support the break through and push past resistance levels.
With the Reserve Bank of New Zealand surprising the markets with a rate cut earlier this week this could lead to the RBA doing something soon themselves.
Whilst fears surrounding the Greek debt continue this is also seeing riskier currencies being sold off including the AUD, NZD & ZAR.
As the three currencies are also heavily influenced by commodity prices and global demand which has slowed this is another reason for the recent weakness.
The RBA minutes are due on Tuesday and any suggestion of a rate cut round the corner could push Sterling even higher vs 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]