The Australian Dollar has once again strengthened against the Pound owing to inflation data both in the UK and China.
Chinese inflation data published early this morning showed an improvement on the expectation and this helped the AUD as whatever happens in China often will impact the Australian Dollar so if the data is positive this often results in AUD strength vs Sterling.
Also out in the morning UK inflation was released which although was the highest in close to three years it was still lower than expected and this caused the Pound to fall against all major currencies.
UK unemployment data is due out tomorrow and I think we could see a brief rise in value for Sterling exchange rates as unemployment has been getting close to all time highs recently.
However, Australian unemployment data is released on Thursday and I think we could see any Sterling gains quickly eroded by the data causing GBPAUD rates to possibly fall in the direction of 1.60 so if you’re considering buying Australian Dollars it may be worth organizing this prior to Thursday’s announcement.
We end the week with UK Retail Sales on Friday and this is likely to cause further volatility but if lower than expected I think the Pound will continue to fall.
Overall the Pound is being weighed down by the uncertainty caused by Article 50 and until this is resolved I think we could see further losses for Sterling vs the Australian Dollar.
Having worked in the foreign exchange markets since 2003 for one of the UK’s leading currency brokers I am confident that not only can I save you money on exchange rates compared to using your own bank but also help you with the timing of your transfer of funds.
If you would like further information or for a free quote when buying or selling Australian Dollars then contact me directly and I look forward to hearing from you.
Tom Holian [email protected]