Australian Inflation data published this morning came out slightly lower than expected with quarter on quarter figures showing a fall from 0.8% to 0.7%.
With the GBPAUD rates having hit recent 6 year highs recently the market has been primarily influenced by the fall in demand for commodities from China which has really slowed.
Indeed, the Chinese stock market has fallen by alarming rates for the last few months and you can almost tie the drop to the fall in the rates for AUD vs GBP.
GDP in Australia has for the 11th time in a row come out lower than expected with 2.3% compared to the required 3%. This has also led to a fall in the value of the Australian Dollar.
Later today the Bank of England minutes are published and with Governor Mark Carney hinting last week that the UK could see interest rates before the end of the year any further evidence of this with the minutes 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]