Sterling climbs against the Australian Dollar (Tom Holian)

Sterling vs the Australian Dollar exchange rate has continued to climb during today’s trading session following some downgrades by the Asian Development Bank.

This is not good news for the Australian economy which is why we have seen the improvement for GBPAUD during today’s trading session.

Previously China’s growth has been forecast to be 7% but likely to come out at 6.8% this year and then fall to 6.7% next year.

With commodity prices having fallen to 16 year lows in recent weeks this has caused the Australian Dollar to fall against the Euro, US Dollar and Sterling creating some excellent opportunities to buy Australian Dollars.

A Financial Stability Review takes places overnight and this looks closely at the Australian economy and I think this could make worrying reading for the Australian Dollar and I expect the currency to weaken overnight.

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 teh@currencies.co.uk