Sterling continues its recent rally vs the Australian Dollar (Tom Holian)

Increase in Risk Appetite Helps Support the Australian Dollar

Sterling Australian Dollar exchange rates have continued to move in an upwards direction owing to the recent change in sentiment concerning the EU referendum.

President Obama, Bank of England governor Mark Carney, the IMF and UK government have all spoken out in favour of staying in the European Union and this has helped restore confidence in Sterling.

Sterling exchange rates have increased against all major currencies and GBPAUD exchange rates are now at their highest point since March.

Tomorrow morning Australia releases its own set of inflation data and this could set the trend in the short term for what may happen next concerning Sterling vs the Australian Dollar. UK inflation has recently been measured at 0.5% which was better than expected.

With the Australian budget due to take place in the next couple of weeks this could cause a bit of uncertainty for the Australian Dollar and Malcolm Turnbull may also announce an early election.

Recently in the polls he has been struggling and if an early election does get called which could take place as early as July I think we could see the Australian Dollar weaken vs Sterling creating some better opportunities to buy Australian Dollars in the near future.

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]