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GBP/AUD Trends Higher As RBA Leaves Rates on Hold

Yesterday’s high: AU$1.7147

Yesterday’s low: AU$1.7069

Australian Dollar Dips as RBA Signals Rates to Remain on Hold for Foreseeable Future

The Australian Dollar drifted lower on Tuesday following the Reserve Bank of Australia’s (RBA) decision to leave interest rates on hold.

While the move had been expected ahead of time, markets were still dismayed by the Bank’s neutral outlook for future hikes, with analysts suggesting that the bank is unlikely to tighten monetary policy until at least later 2018.

However, the Pound’s gains were tempered on Tuesday with the release of the British Retail Consortium latest retail sales report, in which it suggested that year-on-year sales significantly cooled in October.

AUD Outlook: Aussie to be lifted by Mortgage Figures?

Looking ahead, the Australia Dollar may recoup some of its losses later tonight as economists forecast that Australia’s latest mortgage figures will show a sharp uptick in the value of home loans in September.

Meanwhile, the focus for GBP investors is likely to turn to the UK’s latest trade figures in the second half of the week, with an expected narrowing in Britain’s trade deficit likely to strengthen Sterling.

Key Events

9th November

01:30 AU Home Loans Sep

10th November

09:30 UK Trade Balance Sep

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To keep up to date with the Australian Dollar, visit the AUD blog in our Currency News section.

James Baxter


Senior Currency Broker
T: 01442 892 062

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