Australian Dollar rallies overnight

The Australian Dollar gained more than two cents against the pound following the Reserve Bank of Australia’s (RBA) latest interest rate meeting.

As expected the central bank decided to keep the base rate on hold , but a far more optimistic outlook from the policymakers regarding wage growth, helped push the Australian Dollar significantly higher during the Asian session.

We are still seeing some strong buying levels for those looking to secure AUD, particularly the GBP/AUD pairing. Prior to the RBA meeting the pound was at its strongest level in over a year topping 1.78 – we are now back in the 1.75’s again highlighting how volatile the pairing is currently.

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