* BREAKING NEWS * RBA cut interest rates (Dayle Littlejohn)

AUDGBP Strengthens Against but AUD Lower Against USD and EUR

In the early hours of this morning the Reserve Bank of Australia cut interest rates by 0.25% to 1.75% causing significant Australian Dollar weakness. 

Last week Australia released their latest Consumer Price Index (inflation) numbers. The data release showed a steep decline which is a factor to why the RBA cut rates.

GBPAUD has fluctuated over 4 1/2 cents today making a AUD400,000 purchase £5,000 cheaper at the high of the day compared to the low.

Where next for GBPAUD exchange rates?

Friday at 00:30 the RBA will release their latest Monetary Policy Statement. Due to the rate cut this morning I expect this statement to be dovish and therefore we could see a further spike for Australian Dollar buyers.

However with the UK’s referendum (in regards to EU membership) less than 2 months away its only a matter of time until the volatility causes sterling weakness, consequently I expect GBPAUD to fall.

For people buying AUD rates are now at a 2 month high and if an interest rate cut hadn’t materialised I believe GBPAUD would have fluctuated this month in the 1.80s. Therefore if I were buying Australian Dollars I would be taking advantage of the potential spike at the end of the week.

Friday at 00:30 the RBA will release their latest Monetary Policy Statement. Due to the rate cut this morning I expect this statement to be dovish and therefore we could see a further spike for Australian Dollar buyers.

The currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages. I specialise in property purchases and sales. Therefore if you are buying or selling a property and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on drl@currencies.co.uk.

The more information you provide me, the more information I can provide you, I require, your name, brief description of requirement, amounts, your budget, timescales, telephone number and convenient time to call.