GBP-AUD exchange rates. Interest rate decisions loom

GBP EUR Looks to Employment Figures for Support

Sterling-Aussie Dollar exchange rates could well have an extremely volatile week with interest rate decisions looming for both countries.

The RBA will be deciding whether or not to change the rate of interest which is currently set at 4.5% The country has already raised the base rate around three times this year which has resulted in the Aussie Dollar strengthening by around 24 cents in the turn of this year.

The difference on a £200K purchase is a whopping 48000 AUD less now.  

It is unlikely that the interest rate will rise again this year so if you are looking at selling AUD to purchase any major currency then now may be a good time to be looking at making a transfer.

If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the enquiry form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.