GBPAUD exchange rates have seen a big drop during the course of today’s trading session and have moved between 2.08 to 2.12.
The RBA minutes are due in just a few hours and with governor Glenn Stevens having recently stated that he is happy with interest rates where they are for the time being I think the news could see further AUD strength at tonight’s release.
UK inflation data is published in the morning and with oil prices having fallen to their lowest level in over 7 years this could also see GBPAUD exchange rates move in a downwards direction.
The big news which will affect the Pound vs the Australian Dollar will come on Wednesday evening when the US Federal Reserve meets to discuss interest rates.
The chances are that we’ll see a US rate rise which in theory should weaken the Australian Dollar as global investors will sell the AUD to buy Sterling.
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