Will the RBA move interest rates next week? (Tom Holian)

AUD GBP Lower Ahead of PMI Data for the UK Economy

The Pound vs the Australian Dollar has remained in a fairly tight range recently and I think tomorrow will be no exception as the US celebrates Labor Day.

However, things could start to move for GBPAUD exchange rates by Tuesday when the UK announces its latest Quarterly Inflation Report Hearings.

Prior to this comes the latest interest rate decision by the Reserve Bank of Australia and although I don’t see any change to interest rates I think any hints that we could see any form of rate hike coming could cause the Pound to weaken quickly against the Australian Dollar.

One factor that is keeping the Australian Dollar from falling below 1.60 recently has been the uncertainty surrounding the issue in North Korea.

However, I think the real over riding factor affecting the Pound vs the Australian Dollar continues to be the uncertainty and ambiguity surrounding Brexit.

The topic has already been discussed for many months and as yet we are no clearer as to what may happen going forward. Until the uncertainty has been removed I cannot see the Pound making any significant gains against the Australian Dollar.

If you have a currency exchange to carry out 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.