Overnight the Reserve Bank of Australia are set to release their latest interest rate decision. The Chinese economy has been weighing down the Australian dollar throughout the last year and interest rates have consequently been cut by 0.5%. The interest rate is not expected to be cut however the RBA have been keeping their cards close to their chest and therefore cuts could cause GBP/AUD to shift back towards 2.20.
Later in the week (Thursday), the Bank of England, is set to cause further volatility with their latest interest rate decision, minutes of the decision and inflation report. I expect the interest rate decision to be a non-event with an unchanged 8-1 vote in favour of keeping rates on hold at 0.5%.
It may be wise to keep a close eye on the quarterly inflation report. Inflation has been a worry globally and in order for the Bank of England to even think about raising interest rates inflation will have to improve.
I strongly recommend that anyone with Australian Dollars to buy/sell before the end of the year should contact me on directly on 0044 1494 787 478 and ask the reception for Dayle Littlejohn. Together over the phone we will discuss and devise a strategy for your transfer and maximise your return.
If you have an upcoming currency transfer and I have not covered your currency pair that you are looking to trade (AUD/EUR, AUD/USD, etc). Feel free to email me with the currency pair and your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with a forecast and the buying process. [email protected] Dayle Littlejohn.