GBP/AUD exchange rates remain steady but Federal Reserve statement tonight may change that (Daniel Wright)

AUDGBP Continues to Rise, But How Long For?

We have seen the GBP/AUD exchange rate remain fairly steady so far this week, with rates remaining around the 1.92 (0.52) levels.

The market is generally poised and =awaiting any news on the EU referendum in the U.K but we have another notable data release due out later today which may impact all major global currencies.

Over in the U.S we have the Federal Reserve Interest rate decision and monetary policy statement. There is a chance that we may see an interest rate hike but I would put that at a slim one, the main talking point will be what is mentioned in the monetary policy statement following the decision which will give us an insight as to what the next move for the States may be.

The reason that this impacts the Australian Dollar so much is because it impacts global attitude to risk and with the Australian Dollar being perceived as a ‘riskier currency’ it can lead to quite a lot of volatility should it look like we may see global attitude to risk change.

Regarding the referendum we are seeing the campaign to leave the EU gather quite a large amount of momentum which could lead to Sterling dropping off considerably for a short period as we see uncertainty hanging over the U.K and the Pound.

We here at Australian Dollar Forecast we all work for one of the largest currency brokerages in the U.K with access to exceedingly competitive and rarely beaten rates of exchange, along with awards for our customer service.

If you feel that we may be beneficial to you then feel free to get in touch with me (Daniel Wright) the creator of this site many years ago and I will be more than happy to help you personally. We deal with bank to bank transfers ranging from £1000 to multi-million pound exchanges and will be able to explain all of the options to you in clear and easy to understand terms. Email me today on[email protected] with a description of what you need to do and a contact number and I will contact you at the earliest opportunity. You can also call our trading floor hotline during trading hours on 01494 787 478.