Next week the Reserve Bank of Australia and the Bank of England are both set to release their latest interest rate decisions.
Australia are set to release their decision first on the 1st of the month and I expect no change. New Governor Phillip Lowe indicated in his first press conference that cutting interest rates could continue to cause harm to an already over inflated housing market, therefore he would use other alternatives to keep the economy stimulated.
As for the Bank of England many economists are predicting a cut to 0.05% which in turn would devalue sterling. With the pound plummeting since the referendum, Governor Mark Carney will be reluctant to cut rates unless he has no alternative as our imports are becoming far to expensive. However I think its a 50-50 if he makes the cut.
Therefore if you analyse both of the central banks potential monetary policy decisions there’s a good argument that GBPAUD could continue to decline. For short term Australian dollar buyers it may be worth cutting your losses and trading sooner rather than later.
Many of our competitors use online trading platforms for their clients and I have the ability to improve on the exchange rates offered. The currency company I work for enables me to be able to negotiate in a live market to achieve clients better rates of exchange.
If you are needing to buy or sell Australian Dollars I would recommend emailing me with your requirement and timescales and I will respond with your options [email protected]. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.