Australian dollar continues to shine - Will tomorrow's RBA interest rate decision propel AUD yet further against sterling?

Details

Category: Australian Dollar News

Written by Sam Coventry

International Money Transfers at our sister site

"We are not expecting much new in terms of the RBA’s statement either, though this Friday’s quarterly monetary policy statement should highlight improved aussie growth prospects" - Caxton FX.

The pound to Australian dollar continues to suffer, the currency pair is this morning 0.19 pct lower at 1.4775.

Sterling continues to struggle against the popular AUD as the market turns its head towards tomorrow morning’s monthly interest rate decision from the Reserve Bank of Australia.

"We are in line with market consensus in expecting no change to the RBA’s 3.50% interest rate. We are not expecting much new in terms of the RBA’s statement either, though this Friday’s quarterly monetary policy statement should highlight improved aussie growth prospects. This pair is trading down below 1.48 and it is tough to see GBP bouncing back against the aussie this week," says a morning report from the analytics desk at Caxton FX.


Things aren't much better for the pound when it comes up against the New Zealand dollar either.

The New Zealand dollar was a top-performer last week, propped up by Friday’s strong US labour figures. 

Regional risk appetite made strides last week and this pair is trading at a five-month low close to 1.90 now. Sterling has been weak almost across the board but this pair’s latest downturn has more to do with positivity towards the kiwi dollar.

"The main domestic event for the kiwi dollar this week is Wednesday night’s NZ employment update, which is expected to be pretty decent. This pair trades at 1.91 and looks set to remain under pressure," say Caxton FX.