Foreign Currency Direct Foreign Currency Direct
Open an account

The GBP/AUD pairing has been volatile over the past month, as interbank rates ranged between 1.7570 - 1.8030, and in the anticipation of the latest interest rate decision from the Reserve Bank of Australia (RBA) last week, the Australian dollar saw gains against the pound.

It was announced that Australian inflation had risen by 0.1% for the previous quarter which slightly exceeded forecasts, with various economic sources linking the rise to a surge in oil prices earlier in the year, which is one of the countries key exports.

However, the Aussie’s gains didn’t last long, as it was announced later in the day that the US President intended to impose further trade tariffs on good’s imported from China, which most likely saw sentiment in the currency weaken as China is the countries key trade partner.

RBA latest interest rate decision

RBA latest interest rate decision

The Reserve bank of Australia (RBA) is set to announce their latest interest rate decision this week, with the result potentially influencing the Australian currency markets.

Despite current expectations of no change to the current level of 1.0%, analysts expect movement  if the RBA still indicates a readiness to cut rates before the end of the year.

Over the weekend, it was reported by the Australian Financial Review Newspaper, that with current inflation levels still well below the 2-3% target, the RBA could look at an interest rate cut to further stimulate the economy, which would be in line with comments made earlier in the year by the central banks governor Philip Lowe.

For more information, you may wish to contact our trading floor directly on 01494 725 353 to speak with our team of experienced currency specialists.

Read our monthly currency forecast

Download here

News

Pound rises against the Australian Dollar

Pound rises against the Australian Dollar

The pound hits a 2 week high vs the Australian dollar as the CBA makes a negative statement about the outlook for Aussie.

By Tom Holian
RBA intervention on the horizon?

RBA intervention on the horizon?

US China trade war remains a concern for the Australian economy as the RBA discuss further alternatives to stimulate economy.

By Joseph Wright
Will the Australian Dollar weaken?

Could the Aussie Dollar weaken?

Australian dollar rises against its counterparts as the Westpac Leading Index rises.

By Jonathan Watson
Read more articles

 

D. Wade

UK

It was efficient, felt very secure with the checks made along the line and a very good rate of exchange.

Read our testimonials

S. Poole

Spain

Excellent service. Contacted in the morning transferred funds. My bank in Spain received money the following morning. Brilliant.

Read our testimonials

P. Lawson

UK

We always use foreign currency direct. Completely happy with the service, fast and friendly.

Read our testimonials

M. Cowne

UK

Very good. Very efficient. Excellent rate.

Read our testimonials
Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.