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Posted May 8th, 2015 by Charles Purdy

Australian Reserve Banks cuts rates

All major currencies fell against sterling overnight as certainty returned to who will be running the UK for the next five years and given it was the Conservatives, who have been running it for the last five years, expectations are for more of the same.

Australia did cut its interest rate to 2% this week which initially boosted the Australian dollar as it would provide more incentive for people to invest. Obviously this trend reversed overnight as the UK election result became clear.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

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