The Australian Dollar has had a fairly turbulent time over the past 24 hours, with fairly large swings against most major currencies.
Leading up to the Federal Reserve interest rate decision over night the Australian Dollar initially gained ground. Janet Yellen, Chair of the Fed then announced that the U.S will aim to start cutting back its QE (Quantitative Easing) program and that they still plan on an interest rate rise in the coming months.
This led to a little USD strength and weakness for the antipodean currencies (AUD,NZD and ZAR) as we saw investors shift funds out of riskier currencies and into the Dollar following this slightly more positive news.
Earlier today we then saw Governor of the RBA Philip Lowe comment to the American Chamber of Commerce in a speech he called ‘the next chapter’. Lowe was fairly positive about the economy going forward and this gave the Australian Dollar a minor boost back once again in a volaitle period for those that have Australian Dollars to buy or sell in the coming days, weeks or months ahead.
For anyone with an interest in GBP to AUD or AUD into GBP you should be aware of Prime Minister Theresa May speaking about Brexit tomorrow which may lead to a particularly volatile day for the Pound.
If you have a pending currency exchange to carry out in the coming days, weeks or months then it would be prudent to get in touch with me directly no matter who you were planning to use. I have had thousands of people contact me through this blog over the years that had planned to use their bank or their current broker and the vast majority have ended up using our company instead due to better exchange rates and a smooth and efficient customer service.
If you would like to get a free, no obligation quote to compare against what you are currently being offered then you can email me (Daniel Wright) on [email protected] with a brief description of your needs and I will be more than happy to contact you personally.