Australian Dollar Weakens vs Sterling as Commodity Prices Fall (Tom Holian)

AUDGBP Lower After Melbourne Sees Travel Restricted

Sterling Australian Dollar exchange rates have picked up during the course of today as commodity prices have continued to slump.

Sterling has also risen vs the New Zealand Dollar as well as against the South African Rand.

A decline in lending in the property sector has also led to the RBA possibly looking at interest rates in February at their next meeting.

However, as the rate decision will be some time away the recent comments from RBA governor Glenn Stevens appear to me at least at the moment that we could see the AUD strengthen and today could be just a bit of a blip.

Iron ore prices have again dipped to record lows and this could also be one of the main reasons for the weakening behind today’s exchange rate movement.

Arguably one of the biggest movements for Sterling Australian Dollars could come tomorrow morning with the release of the Australian Unemployment rate.

The prediction is for 6% so anything better could see the AUD regain some of its strength lost during today’s trading session.

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]