The Australian Dollar has been trading fairly well recently against the Pound but really struggling against a number of other currencies including vs the US Dollar.
The US are set to raise rates again soon and this could even happen on Wednesday evening when the US Federal Reserve hold their latest meeting.
The US have increased rates a number of times since December 2015 and this could be the second rise this year which is likely to put pressure on the value of the Australian Dollar.
Over the years the Aussie Dollar has benefited from high interest rates and a relatively stable economy but as the RBA are unlikely to raising rates anytime soon then this is likely to encourage global investors to move their money away from the Australian Dollar.
The knock on effect of this with anyone looking to buy Australian Dollars could potentially be good news.
In my opinion I don’t think we’re too far away from hitting 1.80 again in the near future but it will also be affected by what is happening politically in the UK.
The UK will debate the EU Withdrawal Bill on both Tuesday and Wednesday and the government is keen to get things sorted before the next EU summit due to held on 28th June.
Clearly the ongoing Brexit discussions are causing uncertainty for the UK economy and this is being reflected in the value of the Pound so any good news next week could see a good period for the Pound vs the Australian Dollar.
I work for one of the UK’s leading currency brokers and I’m confident that not only am I able to save you money on exchange rates but also help you with the timing of your currency transfer.
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Tom Holian [email protected]