Australian Dollar gains back ground on Sterling due to comments from Bank of England Governor Mark Carney (Daniel Wright)

Commodity Based Currency AUD Struggles During Global Uncertainty

The Australian Dollar gained back a little ground today that it had recently lost against Sterling following comments from head of the Bank of England Mark Carney. Carney commented that interest rates would not be going up in the U.K for a long time and that the outlook for the U.K economy wasn’t as rosy as many had thought.

Following these comments Sterling lost ground against the AUD and for those looking to sell Australian Dollars a brief opportunity arose even with China and the Chinese issues still lurking in the background.

It would not surprise me to see RBA Governor Glenn Stevens start to look into cutting rates in the near future due to the problems in China and the issues it may cause the Australian economy and should this end up being the case then we may see the Australian DOllar weaken off a little in the coming weeks.

Should China remain quiet then a move back close to 2 may well be a possibility but there is one thing that is for sure and that is that you need to be extremely vigilant if you are looking to buy or sell Australian Dollars in the near future.

We can help you with any exchanges you are looking to make not only in terms of getting the most for your money on an exchange and also helping you with the timing and way you go about carrying it out. We have various contract types to help you avoid adverse market movements or to take advantage of a big shift in your favour 24 hours a day, 7 days a week as this currency pairing is moving around all of the time.

Feel free to get in touch with me (Daniel Wright) if you would like to discuss any potential exchanges you have to make and I will be more than happy to call you or reply to an email personally. You can email me on djw@currencies.co.uk with a brief decription of what you are looking to do along with a contact number and I will be in touch shortly.