GBP/AUD Time to Reevaluate your Strategy (Daniel Johnson)

Australia Dollar Lower as Victoria Extends Lockdown

There are now new buoyancy levels for GBP/AUD between 2.08-2.11. It may be time to reevaluate your currency strategy.Personally I don’t think we will see any substantial strengthening in GBP/AUD due to the increased confidence in the Australian economy caused by the delay in a rate cut until at least February from the Reserve Bank of Australia.  UK inflation is also shockingly low at 0.1%, some way from the 2% target and Mark Carney has indicated he is willing to drop rates to combat the problem. This would substantially weaken Sterling. If your buying AUD short term it may be wise to move on a small Spike rather than hang on for the 2.14s-2.15s we have experienced of late.

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