Sterling vs Australian Dollar exchange rates have improved over the last couple of trading sessions as UK GDP figures showed positive growth.
The Chinese stock market has fallen dramatically in recent times and as Australia’s largest trading partner any problems in China have an adverse effect on the strength of the Australian Dollar.
With more losses expected on the Chinese stock market this is likely to continue to impact the Australian Dollar possibly creating further weakness.
The Federal Reserve in the US have suggested that they are ready to start increasing interest rates soon whilst the RBA are more likely to cut interest rates going forward.
This combination of monetary policy does not bode well for the Aussie Dollar so we could see GBPAUD rates go in an upward direction over the next few days.
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]