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Australian Dollar to Pound Sterling (AUD/GBP) Exchange Rate – ‘Aussie’ makes a solid end to the week

Australian Dollars

The Australian Dollar to end the week on a high against the Pound, Euro and US Dollar as the currency benefits from increasing speculation that the Reserve Bank of Australia will not choose to ease interest rates again for the rest of the year.

The gains come even as the markets gear up for the US Federal Reserve to begin tapering its monetary easing policy on the 17th of this month. A string of good data release from the States has increased speculation for the easing. The afternoons US jobs data is expected to solidify expectations.

The ‘Aussie’ is trading close to a three-week high against the ‘Greenback’ and is at a one-month high against both the Euro and Japanese Yen. So far this week the Australian Dollar has gained by 2.5% against its US counterpart as the markets scaled back their expectations for further interest rate cuts before Christmas. Previously 100% of investors had predicted a cut, now that number has tumbled to 40%.

Ironically the reduction in the number of investors expecting a rate cut has increased the likelihood that a cut could be made as the RBA has been counting on the weaker currency to ease pressure on the nation’s industries.

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Investors are being cautious ahead of an influential US payrolls report due later in the session. A strong reading is likely to cement the case for the Fed to scale back its asset-buying programme as early as this month.

For some though, the data outcome has become nearly irrelevant.

“The jobs data matters less, given the recent string of strong US data. It’s not that the payroll is the tipping point,” said Annette Beacher, head of Asia-Pacific Research at TD Securities in Singapore.

Australian Dollar (AUD) Current Exchange Rates

The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9150 >

The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6971 >

The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5870 >

The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4344 <

The Pound Sterling /Australian Dollar Exchange Rate is currently in the region of: 1.7034

Correct as of 10:45 am GMT