A bit of profit taking has seen the Aussie strengthen back against the pound but I do not expect this to last for long. Looking at the collapse in commodity prices the Aussie is going to be in for a tough few months, maybe years. After the boom in commodity prices saw the Aussie rise against everything in 2011, an about turn in Chinese demand has seen the value of Iron Ore and other precious materials plummet along with the value of the Aussie.
With sterling now finding more favour as the UK economy improves and an interest rate rise looms, it might be that this currency pairing has further to go in the future! For more information at no cost or obligation please let me Jonathan know on [email protected]