Daily Archives: June 12, 2018

Pound vs the Australian Dollar waiting to hear about the EU Withdrawal Bill (Tom Holian)

The Pound vs the Australian Dollar has crept up during today’s trading session and we could be in for a very volatile period over the next 24 hours as the House of Commons will be debating the latest EU Withdrawal Bill.

The bill was rejected previously by the House of Lords and this is the reason why it has been sent to the House of Commons for another review.

Most of the DUP have said that they will side with Theresa May but if some of the Tory back benchers go against the Prime Minister this could cause a big headache for the government and this could result in Sterling weakness against the Australian Dollar.

By the end of Wednesday and going into Thursday morning we should know the update so if you’re concerned about what may happen then it’s probably worth getting your currency organised as we could see a lot of movement on GBPAUD exchange rates over the next couple of days.

During the voting on the bill this afternoon we have seen one member resign over the Brexit talks and there has so far been a lot of in fighting between MPs.

In the morning UK inflation data is due out at 930am and we could see some market movement on Sterling vs the Australian Dollar but ultimately I think it will be the EU withdrawal bill that will cause the most movement.

If we have a positive result then we could see GBPAUD exchange rates head towards 1.80 but if not I expect the Pound to fall below 1.75.

If you have a currency transfer to make and would like to save money on exchange rates when buying or selling Australian Dollars compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

AUD Forecast – Fears Over Brexit Continue to Support the AUD (Matthew Vassallo)

It’s been a quiet start to the week for the AUD, following yesterday’s bank holiday in Australia.

GBP/AUD rates have remained range bound over recent days, with little market movement despite the developments in the Korean peninsula.

Almost every headline this morning relates to the historic meeting between President Donald Trump and Korean leader Kim Jong-Un.

Whilst we are still waiting for the full details of the deal that has been put in place, both Trump and Kim confirmed that they had signed a document that has committed North Korea to complete denuclearisation.

Whilst this deal has no direct impact on the Australian economy, the repercussions are likely to have ripple effects across the global economy.

The AUD has performed well of late, particularly against its GBP counterpart, finding plenty of support around the current levels. Whilst GBP/AUD are trading around 1.76 this morning the pound has not threatened to make any sustained move towards 1.80 over recent weeks.

Sterling continues to be handicapped by concerns over Brexit and with today’s House of Commons debate will be followed closely by investors, a positive resolution in the short-term seems optimistic at best.

This uncertainty is helping to support the AUD around the current levels and with yesterday’s poor UK Manufacturing data a real for cause for concern, I am not anticipating a major shift in Sterling’s favour over the coming days.

If you have an upcoming GBP or EUR 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 winning 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.