Daily Archives: January 12, 2018

Pound to Aussie Dollar rate jumps on smooth Brexit hopes, will this trend continue? (Joseph Wright)

The Pound has spiked in value this afternoon across the board of major currency pairs, after this time the Brexit related news is positive.

Many may have expected to see the Brexit talks begin to have less of an impact on the Pounds day to day value, but it appears to be heating up as UK and EU officials prepare for Brexit trade negotiations and time to invoke Article 50 runs out.

The good news for the Pound today can be attributed to reports of the Netherlands and Spain is apparently open to a softer Brexit deal for Britain, which is of course welcome news to those hoping for a stronger Pound.

Those following the Pound should be aware that it’s trading at an 18-month high against the US Dollar.

Moving forward the Pound to Aussie Dollar rate is likely to continue to be driven by sentiment surrounding the Brexit and how the UK economy will perform during and after the transition.

If you would like to be kept updated regarding any short term price changes between the pair discussed today, do feel free to get in touch and register your interest.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on jxw@currencies.co.uk and I will endeavour to get back to you as soon as I can.

AUD Forecast – What Next for GBP/AUD Exchange Rates? (Matthew Vassallo)

GBP/AUD rates have spiked overnight, with the Pound hitting 1.7262 at the high.

The pair has remained extremely range bound of late, with little indication that the Pound will make any sustainable move up to, or through 1.75.

Similarly, it seems to be finding plenty of support above 1.70 as the markets wait for the next key driving factor to show itself. This could well be linked to any media reports regarding Brexit negotiations, with phase two talks set to get underway shortly. These will run until October, so personally I don’t expect to see any major breakthroughs anytime soon.

Considering how prolonged and arduous phase one talks were, I am not partially confident as we head into the next round of negotiations.

This could put pressure back on the pound and it may be wise to protect any short-term GBP/AUD positions ahead of these talks.

Looking at the Australian economy and early year financial reports have indicated that the Australian economy is set to continue to grow in 2018. If this prediction comes to fruition it will be Australia’s 27th year of uninterrupted growth.

This in itself is a quite staggering statistic, especially when you consider there have been at least three major global recessions during this period.

Whilst the Australian economy is of course not impenetrable, it is clear they are benefiting from high levels of skilled immigration and a booming mining industry, which helps to support their continued growth.

The issues they could face are rising house prices in both Sydney & Melbourne, which are becoming are becoming unsustainable. This is making them unaffordable for the majority of residents, which in turn could have a negative impact on the Australian economy and ultimately the AUD in the coming months.

If you have an upcoming GBP or AUD currency transfer to make you can contact me directly on 01494 787 478. We can help guide you through this turbulent market and as a company we have over eighteen years’ experience, in helping our clients achieve the very best exchange rates on any given market.

Our award inning rates can be accessed very easily over the phone and I can keep you posted with key market developments ahead of any prospective exchange you need to make.

Feel free to email me directly on mtv@currencies.co.uk to find out all the options available to you ahead of your currency transfer.