Sterling has regained its losses vs the Australian Dollar seen earlier this month as the US Federal Reserve suggested last night that it is getting ready to raise interest rates.
The reason for the movement on GBP vs Australian Dollar rates is that as and when the US raise interest rates this means that riskier commodity based currencies such as the AUD weaken as global investors plough into the US Dollar.
The Pound has seen solid gains during the week and the Interbank level has seen rates hit 2.16 during the course of today’s trading session.
The Eurozone has also hinted at further Quantitative Easing last week and again this had led to Australian Dollar weakness.
Australian inflation data was also lower than expected this week and this has led to further calls for an interest rate cut by the Reserve Bank of Australia.
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