Sterling Australian Dollar exchange rates have once again touched 2.20 this morning followed by the volatile start to the week with Black Monday.
With the US now unlikely to raise interest rates and the Chinese slowdown beginning to take full effect this is causing the Australian Dollar to weaken.
Indeed, this puts pressure on the Reserve Bank of Australia to cut interest rates in the near future as commodity prices have also fallen to a 16 year low this week.
The next possible interest rate cut in Australia is pencilled in for perhaps December and this has also caused weakness for the Australian Dollar.
With global market volatility this does not look good for the AUD rates vs Sterling and this could provide some excellent opportunities to buy Australian Dollars with Sterling.
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]