Unemployment figures Cause AUD Spike (Daniel Johnson)

AUDGBP Slumps Despite a Surge in Employment

Australian unemployment figures have come in overnight and we have seen AUD rally against the Pound. GBP/AUD has been pushed back from the very attractive 2.10’s of yesterday.

We have the Monetary Policy committee’s vote on Interest Rates in the UK at 12pm and any change from the usual 8-1 vote could cause volatility for GBP/AUD. I don’t expect any change, but if there is any change in vote it will be to 9-0 nil against a rate hike which will cause Sterling weakness.16th

The US are almost nailed on to increase the interest rate on 16th December, there is a strong possibility we could see AUD strength as investors move to riskier currencies in hope of higher returns.

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