Australian Dollar Strengthens at the start of the week (Tom Holian)

AUD to GBP: UK Vaccine Push Boosts Sterling

The Australian Dollar has strengthened vs Sterling this morning as global stock indices enjoy a major fightback after a disastrous week last week.

This has encouraged global investors once again to seek higher yielding and riskier currencies including the Australian Dollar.

The Japanese stock market has improved by over 7% and this good news has settled global markets.

The RBA minutes are due out tomorrow and I think we could see suggestions that an interest rate cut may be coming in the future but not quite yet.

I think it will be a wait and see policy but I do think it is a matter of time before rates are cut downunder as the Australian economy is clearly under pressure.

Thursday could be the turning point for GBPAUD exchange rates when Australia announces the latest unemployment figures.

The expectation is for 5.8% so anything different could cause volatility.

Also on Thursday we see the release of Chinese inflation figures and I think this could cause the most movement for Sterling vs 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]