The US Federal Reserve are due to meet in the next hour and we will find out whether or not we will see a change in interest rates for the world’s leading economy.
Looking at how GBPAUD exchange rates have been performing today I think there is a chance that we will see a rate rise of 0.15% this evening which could see huge US Dollar strength which is likely to weaken the Australian Dollar.
The reason why is that global investors who have been holding riskier currencies including the AUD will move towards the US Dollar if there is a rate change.
Indeed, if we see a rate hike this could push Sterling Australian Dollar rates over 2.20 this evening creating some excellent opportunities to buy Australian Dollars with Sterling.
However, even if we do not see an interest rate change this evening any suggestions of when one might occur could again see big movements for exchange rates.
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]