Its very difficult to predict if Janet Yellen and the Fed will raise Interest Rates this evening, therefore it makes it harder to predict to whether GBPAUD will rise, fall or no change following the release of the Monetary Policy statement and when shortly after Janet Yellen testifies. However below are some possibilities:
- Hike of 0.25% – Option 1 – We see a sell off of all major currencies to buy USD, the USD strengthens dramatically, GBPAUD rates stay the same. Option 2 – Investors feel confident in the global economy and consequently feel comfortable in purchasing commodity currencies. GBPAUD drops.
- No hike – Speculative traders reverse their trades, the Euro strengthens and possibly Sterling. Investors lose complete confidence in commodity currencies as global growth is dented once again. GBPAUD rises.
If you are buying or selling AUD this week we have different contract options available to you which will protect you from market fluctuations. Therefore 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. Dayle Littlejohn [email protected].
If you want further information in regards to a specific currency pair that I have not covered (AUD/USD, AUD/EUR, etc) then 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. Alternatively call 0044 1494 787 478 monday morning and ask the reception team to be put through to Dayle Littlejohn.