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

AUDGBP Slumps Despite a Surge in Employment

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 [email protected].

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.