The FOMC minutes have caused big movements for GBPAUD exchange rates as although they hinted strongly that the US is ready to raise interest rates no definite timeline was provided.
This has caused the Australian Dollar to strengthen vs Sterling today by almost 3 cents providing a good short term opportunity to sell Australian Dollars into Sterling.
With the Fed minutes not conclusive this has seen all the riskier currencies gain throughout today’s trading session but to me I think this movement will be short-lived.
The Australian Dollar appears to be directly affected by what is happening with the US and I think in December we could see the rate hike that we’ve all been waiting for so my personal feeling is that we’ll see GBPAUD rates go in an upwards direction as and when the rate hike in the US finally takes place.
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