A deal has finally been reached between the UK and the rest of Europe last night at the EU summit which is expected to see a big movement in the favour of Sterling vs the Australian Dollar as we start the week.
PM David Cameron has managed to secure most of his wishes and all members of the EU appear to be pleased with the end result.
The political and economic uncertainty of a Brexit has caused big problems for Sterling exchange rates against the Australian Dollar and we have seen big movements over the last few weeks as investors have stayed away from Sterling.
A decision will be made soon as to when the referendum will take place but with Cameron having been granted most of his desires I think there is little chance that the UK will opt out of the EU and I expect to see Sterling recover.
A referendum date is expected to be announced a little later this morning of late June.
There are limited data releases for Australia next week so keep your eyes out for Thursday’s UK GDP figures which could cause further volatility for the Pound vs AUD.
Overall I expect to see Sterling gaining vs the Australian Dollar during next week. Good news for AUD buyers.
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]