Sterling vs the Australian Dollar has seen positive movements already this month following the recent interest rate cut by the Reserve Bank of Australia.
The Australians are also due to go to the polls in the next few weeks and the uncertain period ahead for the Australian economy could see Sterling exchange rates break past 2 in the near future.
The Reserve Bank of Australia are due to release their latest set of minutes on Tuesday and if we see any suggestions of another rate cut coming this could be the opportunity for Sterling to break past that magical figure of 2 which is great news for anyone looking to buy Australian Dollars with Sterling.
Even though we are just less than 6 weeks away before the UK decides whether or not to stay in the European Union this has had little impact on Sterling vs the Australian Dollar.
The Pound has struggled against a lot of other major currencies but not against the AUD which highlights the problems that the Australian economy is currently facing.
Australian unemployment figures are due to be released on Thursday and if we see the data come out negative then this could also see further Australian Dollar weakness vs Sterling. Good news for anyone looking to buy AUD with Sterling.
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]