Australian Dollar Prediction for the end of the year (Tom Holian)

AUDGBP Higher Despite Wage Subsidy Job Losses

Sterling vs Australian Dollar exchange rates have had an interesting month so far moving by as much as 9 cents from the high to low or over 4%.

The month started with RBA governor Glenn Stevens stating that he is happy with interest rates staying the same for the time-being which led to the AUD strengthening vs the Pound during the start of the month.

With the next RBA meeting not taking place until February the discussion of interest rates has been postponed at least for the meantime.

However, Sterling has bounced back against the Aussie Dollar as oil prices and commodity prices continue to tumble.

With the global slowdown this has led to the fall in commodities and as Australia is heavily reliant on its minerals and natural resources this is likely to negatively impact on the Australian Dollar and I would expect Sterling to break through 2.10 in the run up to the festive period.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]