Daily Archives: January 24, 2017

Where next for GBPAUD exchange rates (Dayle Littlejohn)

Throughout the last 30 days of trading GBPAUD exchange rates have fluctuated 10 cents which means a 200,000 Australian dollar purchase could have been £7,300 cheaper if timed to perfection. For exchange rates to fluctuate 10 cents in 30 days it just shows how volatile GBPAUD exchange are at present and I put this down to Brexit and Donald Trump.

The Supreme Court today confirmed Theresa May’s government does not have the power to invoke Article50 of the Lisbon treaty and therefore she needs to attain Parliamentary approval before any decision is made. You would have thought the pound would have made gains against the Australian dollar as triggering Article50 became more difficult for the PM, however central exchange rates barely moved from 1.65.

Mrs May’s team confirmed that they have a bill prepared and plan to provide this bill to MPs to vote on shortly. There are some MPs that are against Mrs May’s plans, however they are heavily outnumbered.  MPs should come to a conclusion within the next 2 weeks which means Brexit could actually happen in March as May has outlined.

If you rewind back to October when the UK Public were under the impression leaving the EU also meant leaving the single market, exchange rates dropped to 3 year lows and exchange rates fluctuated in the higher 1.50s. My personal view is as long as Donald Trump stays quiet GBPAUD exchange rates will fall back to the high 1.50s by March.

If you are trading GBPAUD in the upcoming weeks, months or years feel free to email me with the reason for your conversion (company invoice, buying a property) and the timescales you are working to and I will email you with my forecast and the process of using our company drl@currencies.co.uk.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you minutes and in the past I have saved clients thousands! **

 

Sterling Australian Dollar exchange rates due for a volatile day today? Supreme Court decision due out today! (Daniel Wright)

The long awaited Supreme Court hearing decision in the U.K is due out later this morning, which many expect  to cause a fair amount of market volatility, not only for the Pound but for global markets as a whole.

Since this all started in December, the markets have been watching and waiting for any hint as to which way that the decision may go, as it will have a great impact on the Pound and where it heads next due to the influence it may have on a ‘hard’ or ‘soft’ brexit.

Should the Supreme Court overturn the high court decision and say that Theresa May and the Government are good to proceed with moving forward on article 50 (starting the process of brexit officially) then there is the chance that Sterling may drop off a little, but also to show another argument it may lead to Sterling strength as we will finally have a little certainty as to where the U.K heads with all of this.

The expectation is for the decision to confirm that they are upholding the High Courts initial decision and that May will have to put the decision through Parliament. If this is the case then more uncertainty may give the Pound a little drop off but what we hear afterwards could push it back up as I would be surprised if we do not hear a lot of the MP’s asking for a softer approach to brexit which may leave access to the single market.

All in all this could be a very busy day for Sterling/Australian Dollar exchange rates so you need to make sure you are watching the markets at all times, or that you take advantage of limit orders. If your current broker or bank has not made you aware of this handy tool then this is something that we offer. A limit order is where you can set a particular rate trigger in the market that you would like to achieve,  and should it become available any time 24 hours a day 7 days a week then your rate will be bought out automatically for you. There is no cost to place this order and it can be cancelled or amended at anytime with a quick phone call to us.

If this seems of interest or you would like to make an enquiry about our award winning service and exchange rates anyway then it will be well worth you contact me personally. You can email me (Daniel Wright) on djw@currencies.co.uk with a description of your needs and I will call you personally to discuss the options available to you and to explain how it all works.