Pound to Australian Dollar Exchange Rate Volatile Ahead of RBA Decision
The Pound to Australian Dollar exchange rate saw significant volatility last week, trading in a wide range due to shifting expectations surrounding a US-Iran ceasefire.
The 'Aussie' initially gained support from upward revisions to Australia's PMI surveys and renewed hopes for a deal between the US and Iran.
However, investor optimism began to fade as the anticipated deal failed to materialize, leaving investors cautious towards the Australian Dollar despite an unexpected trade surplus in June.
The Reserve Bank of Australia's (RBA) interest rate decision is expected to be the main driver of the Pound to Australian Dollar exchange rate this week.
If Governor Michele Bullock maintains a dovish stance, the Australian Dollar could weaken during the first half of the week.