Sterling Australian Dollar exchange rates ended the week close to a 6 year high to buy Australian Dollars with Sterling as news in the US means an interest rate rise may occur in the US later this month.
With the RBA having cut interest rates in Australia earlier this year global investors are looking to the US Dollar as a safe haven and selling off commodity based currencies including the Australian Dollar which is causing the Aussie to weaken against the Pound.
Indeed, with global commodity prices having fallen to a 16 year low earlier this month confidence in the Australian Dollar has fallen.
Further with Black Monday just a fortnight previous as the Chinese have been on bank holiday on both Thursday and Friday we could be in for a very volatile beginning of the week.
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]