Australian Dollar set to weaken against the Pound following Yuan devaluation (Tom Holian)

Australian Dollar Forecast – Unemployment Weighs on Sentiment

Sterling Australian Dollar exchange rates have had a good period recently with rates hitting a 6 year high to buy Australian Dollars.

Over the last few days China’s central bank has intervened with the Yuan which has seen it devalue over the last three days.

This is likely to cause further weakness in the Australian Dollar creating even better buying opportunities during next week.

UK inflation data is due out on Tuesday morning which could be a key event in the short term future for Sterling vs the AUD.

If inflation comes out strong this could put more pressure on the Bank of England to bring forward an interest rate rise in the UK which will encourage more investment in the UK and cause Sterling to rise.

Also on Tuesday are the minutes from the most recent RBA meeting which is likely to cause volatility for GBPAUD rates.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank or another currency broker contact me directly for a free quote. Tom Holian teh@currencies.co.uk