Sterling has started the year with a rise vs the Australian Dollar caused by the huge falls in the Chinese stock market.
This has also hit the Australian stock market and we could see further falls for the Australian Dollar.
However, one big positive is that the iron ore has increased for 11th day in a row and the price of gold has also gone up.
The good news for the Australian Dollar is that as they are heavily reliant by what happens in China and although the stock markets are clearly experiencing big problems with the price of natural resources going up this could even provide the AUD with some strength.
However, with the Chinese releasing Services data tomorrow morning this could cause more volatility and I think we could see further falls for the AUD vs Sterling.
My prediction this week is for Sterling to rise vs the Australian Dollar.
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]
For a live price then call me directly on UK number 01494-787-478