The rates to buy Australian Dollars with Sterling has increased during Friday’s trading session after the US inflation data came out lower than expected.
It has already been an interesting week for GBPAUD exchange rates with interest rates having been a key topic in the UK, US and next week in Australia.
The Aussie Dollar is heavily affected by what happens in the US as it will influence global attitude to risk.
With the US posting lower than expected inflation levels this could suggest that an interest rate hike in the US may not be coming as soon as many expect and this has caused a sell off for the US Dollar in favour of the Pound which in turn has caused the Pound to rise against the Australian Dollar.
Next week on Tuesday the Reserve Bank of Australia will announce their latest minutes from their interest rate decision held earlier this month.
The RBA were rather neutral in their stance as to what to do next so further evidence of this in my opinion could see Sterling challenge 1.70 levels against the Australian Dollar by the middle of next week.
If you’re intending making a large currency exchange in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.
A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will endeavour to get back to you as soon as I can.