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The Aussie has risen in recent weeks as investors become more positive regarding the outlook on Australian interest rates. Where a series of cuts had been expected to come, the previous successive 2 rate cuts appear to be all the RBA (Reserve Bank of Australia) are considering for now, as per the minutes of their latest meeting.

Currency Pair% Change (Month)Difference on £200,000
GBPAUD4.37%AUD $14,152

Ahead however, we could see cuts, as the RBA have signalled their intent to cut if needs be. With global growth slowing, and China, Australia’s largest trading partner reporting their slowest growth in 27 years, the trajectory had suggested to the market more cuts might be forthcoming.

The prospect of the trade wars too, which have been a drag on global growth and confidence, becoming more problematic also remains. Whilst the US and China have agreed to a truce for now, the potential for further issues remains.

RBA Interest rate on hold

Best time in 2019 to sell AUD from GBP

Uncertainty for the pound over Brexit and the stronger Australian dollar has seen the GBP/AUD level fall to its lowest levels this year in the last week, reaching fresh interbank rate lows of 1.7632 last week.

Assistant Governor of the RBA (Reserve Bank of Australia) Kent Lowe will give a speech this evening which might provide some news on monetary policy moving forward. The subject of interest rates is topical for the Australian dollar and could lead to some news and movement for the currency.

GBP/AUD levels will also face the latest news on Brexit with the new UK Prime Minister being announced tomorrow and a speech due on Wednesday evening. The potential for movement on sterling seems increased owing to the significance of Brexit and the direction a new Prime Minister might have on what kind of Brexit the UK takes.

To learn more regarding the latest news on the Australian dollar you may wish to speak to your account manager.

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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.