Tonight we have the RBA meeting minutes from the last interest rate decision in Australia, released a few weeks ago. There had been a small expectation of an interest rate cut but many thought we would see the RBA hold off for another month, however this was not to be the case.
We actually saw a cut of 0.25% for Australian interest rates which led to the Australian Dollar weakening off by almost 2% against most major currencies within a very short period of time. For those who aren’t aware, an interest rate cut is seen as negative for the currency concerned and a rate hike is seen as positive as it make a currency more attractive to investors.
What we are due to see on Tuesday morning (overnight tonight for those in the U.K) are the minutes from the meeting, which may show us how they came to their decision and also whether or not there are worries about the economy or if we could see a cut again in the near future. With the currency markets moving on speculation as well as fact any hints on future policy will no doubt lead to volatility for the Australian Dollar, so ensure you keep a keen eye on rates in the next 24 hours.
If you have the need to buy or indeed sell Australian Dollars for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.
If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on [email protected] and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.