The Reserve Bank of Australia choose not to hike interest rates this week saying that previous hikes are working only for the next day Retail Sales Data for the month of May showed that Australian continue to spend like crazy and now analyst believe that next month the RBA might not be as kind.
Added to this the Australian Banks have stated they believe that the RBA's forecast for growth may also be off, and that the Australian Economy growth will outperform the rest of the western countries like the UK.
So for the time being there seems no reason to Buy Pounds and actually could be a good time to buy Australian Dollars as it chases parity against the US Dollar and 2 to 1 against the Pound.
Pounds to Australian Dollars last at 2.0660
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