Will the Aussie weaken again?

AUDGBP: Australian Dollar Weakens in Worst COVID-19 Day Yet

With the recent fallout from China not living up to full expectation we have seen the market for Aussie dollars improve with some big gains following their decision down under to keep their base interest rate on hold. Expectations for the RBA to cut rates were not fulfilled and we have seen some big improvements for anyone looking to sell AUD for pounds and Euros.

The likelihood is that now we will see the AUD make even further against a much weaker pound and anyone who is buying Aussies for sterling really ought to make sure they have made plans for the rate to get even worse in the coming weeks and months as sterling slumps and the Aussie finds favour once again.

China is not about to slowdown and the Australian dollar represents excellent value to investors who had previously been holding US dollars but have given up owing to their lack of commitment to raise interest rates. All in all it does look like the Aussie is going to become more and more expensive to buy so if you have any currency transfers to consider involving the Aussie please get in touch with us to learn more or email me Jonathan on jmw@currencies.co.uk