Tag Archives: aud exchange rates

What factors could push the Pound to Aussie Dollar rate above 1.80 this year? (Joseph Wright)

The Pound to Aussie Dollar rate has been hovering just below the 1.80 mark for some time now, and although the GBP/AUD pair appear to have consolidated between 1.75 and 1.80 the pair are yet to properly test the 1.80 threshold.

AUD has been boosted in the early hours of this morning after the Reserve Bank of Australia’s minutes from their latest interest rate decision were announced. The RBA remains positive focusing on wage growth and a pick-up in the global economy moving forward which could lead to a rate hike from the RBA later in the year.

The topic of a rate hike in Australia is likely to be key moving forward as a number of other major economies have begun hiking rates now. AUD had previously benefited from having some of the highest interest rates available in the developed world but as other currencies now offer similar returns AUD has lost its appeal somewhat, and this issue is what could give the Pound a chance of gaining on AUD pushing the GBP/AUD above 1.80.

JP Morgan recently offered their opinion on the Aussie Dollars prospects and suggested the currency could fall as weaker commodity prices and monetary policy divergence put pressure on the AUD’s value.

There is an important data release out this morning from the UK in the form of Average Earnings data. This is key because the figure has disappointed recently and struggled to keep up with inflation levels which had previously made the BoE hesitant to hike interest rates. Should wages have increased over the past 3-months the chances of a rate hike are improved so I would expect to see a jump in the Pound’s value should this be the case.

Planning around events such as these can prove beneficial, so do feel to get in touch to discuss any upcoming transfers you plan on making.

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.

Will the Pound to Aussie Dollar rate recover back to pre-Brexit levels anytime soon? (Joseph Wright)

There has been a 1 and a half cent difference between the high and low for GBP/AUD today, as the pair appear to be continuing to decide which direction to move in next.

Sterling has performed in a mixed fashion against the majority of major currency pairs today and I think the economic data released this morning is perhaps one of the reasons for this.

This morning the office for national statistics (ONS) reported that annualised UK Inflation figures for January showed 3%, justifying the Bank of England’s concerns regarding the rising rates of inflation. This was above the expectation of 2.9% and and considerably above the BoE’s 2% inflationary target figure.

The potential for another rate hike from the BoE is now more realistic, and with wage growth now beginning to show signs of an improvement I think there is a chance of it happening this year which is why the pound has been climbing.

GBP/AUD is currently just under 1.80, and if the pair breach this key level I can imagine seeing the rate break through into the 1.80’s even if it’s proving a stubborn barrier up until this point. A move towards 2.00 would be back to pre-Brexit levels, and should AUD continue to weaken I think seeing GBP/AUD closer to this mark sometime throughout 2018 isn’t something to be ruled out.

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.

Inflation to influence GBPAUD exchange rates

Tomorrow morning the UK will release their latest inflation numbers and a slight fall is to be expected. Normally a slight fall would lead to a weakening pound however I expect a fall in inflation could strengthen the pounds position against the Australian dollar. My reasoning is that the Bank of England last week announced they expect inflation to fall and wage growth to rise, which will lead to an interest rate hike. The release is at 9.30am for further information in regards to the inflation release feel free to email me on drl@currencies.co.uk.

Later in the week (Wednesday) Boris Johnson is set to address the public in regards to Brexit. The aim of the speech is to unite remain and leave voters. Past history leads me to think that Mr Johnson may go off topic, especially if he is asked about Michel Barnier’s comments last week. For clients buying Australian dollars with pounds, I would be tempted to take advantage after the inflation numbers and not wait for Mr Johnson’s speech.

Economic data releases are thin for Australia until Thursday at 1.30am in the morning. Unemployment and employment change numbers are to be released. Unemployment numbers are set to fall to 5.3%, which is fantastic for the Australian economy. Employment change numbers are set to show a slight decline however I expect the Unemployment numbers to outweigh the employment change numbers, therefore I expect a positive morning for the Australian dollar.

If you are buying or selling Australian dollars in the future, I would strongly recommend getting in contact to discuss your situation. The company I work offers a proactive service to offering economic information whilst having the ability to offer award winning exchange rates. Feel free to email me with your requirements along with the timescales you are working to and I will respond with my forecast and the process of using our company drl@currencies.co.uk.

GBP/AUD remains at 1.77 after RBA opts to hold interest rates (Joseph Wright)

The Reserve Bank of Australia last night chose to keep interest rates unchanged, which was the expected outcome from economists leaving the currency markets unchanged at 1.5%.

This was the first chance the RBA had to make a change this year, and the base rate has remained at 1.5% for around a year and a half now. Many central banks have opted to hike interest rates in recent months, and should this continue it will result in the Australian interest rates being uncompetitive and therefore AUD weakness in my opinion.

Last year AUD benefited from offering one of the highest interest rates in the developed world. Investors are keen to hold funds in a high yielding currency but should AUD lose its competitive edge, it’s likely that money will be taken out of the Aussie Dollar and we’ll see it fall.

Politics also have the potential to move the GBP/AUD pair, especially at the moment as the European Union’s chief Brexit negotiator Michel Barnier is in London to discuss the UK’s plans and proposals for Brexit this week.

Those following the Pounds value should be aware of this and the potential it has to impact GBP exchange rates should any key comments be made, and do feel free to register your interest with me if you wish to be updated in the event of a major rate spike.

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.

Sterling remains strong despite poor data release (Joseph Wright)

The Pound has managed to hold its ground against the Aussie Dollar today, despite some disappointing data being released earlier today.

It’s emerged that the UK construction sector is relatively flat at the moment, and this is similar to the UK manufacturing sector which also saw disappointing data released recently.

Despite this, the Pound is managing to hold onto its recent gains where the currency has moved up into the later 1.70’s after spending much of last year below 1.70. This suggests to me that the Pound has consolidated at its current levels and I think that there is more of a chance of seeing the pair hit 1.80 than 1.70 recently.

I think the Pound has also been helped by Aussie Dollar weakness which has restricted AUD from regaining any ground. An interesting estimate released recently is that there are forecasts of a 20% decline in iron ore prices throughout 2018, and this comes after the commodity lost quite alot of value recently already.

The reason this is significant is because iron ore is one of Australia’s biggest exports, so therefore a drop in the commodities value is likely to result in a drop in export income for the country.

Those watching this pair should also consider that if there is more talk of a rate hike from the Bank of England in May, we could see Sterling climb even higher.

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.

What factors are likely to impact the Pound to Australian Dollar exchange rate? (Joseph Wright)

Despite the Pound to Aussie Dollar rate improving recently in line with the Pounds good performance in general, there are some analysts expecting to see the Aussie Dollar gain in the months to come.

If the Reserve Bank of Australia (RBA) follow in the footsteps of the US and begin raising interest rates like many expect them to, I think we can expect to see the Aussie Dollar strengthen so those hoping for a stronger Aussie Dollar should be aware of this.

In the current market conditions the markets are usually aware of any upcoming rates changes and it’s usual to see the change being priced into the value of the currency in the weeks and months leading up to the actual change.

Those following the GBP to AUD exchange rate should be weary of this as any allusions from the RBA could result in immediate changes in the exchange rate which currently sits around the 1.75 mark.

From the UK’s perspective the Brexit is likely to continue to drive the value of the Pound as markets the outcome of Brexit negotiations. A spokesperson for UK Prime Minister Theresa May recently came out and said that there is yet to be a transitional agreement made despite reports from some sources suggesting there was.

If you wish to be updated in the event of a short term price change for the Pound, do feel free to register your interest with me.

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.

Will the Pound to Aussie Dollar rate break out of its current trend? (Joseph Wright)

The Pound to Australian Dollar buying rate is continuing to hover around the 1.73 mark at the mid-market level.

Whilst there have been some short term moves away from this level the pairs movements have been relatively tame for the last few weeks, which is quite a change considering how the pair has moved over the past couple of years.

Since the Brexit vote and the fall in the Pounds value due to the shock of the referendum outcome, the pair have remained range-bound between 1.5950 and 1.7950. With the pair currently trading quite comfortably above 1.70 I think it’s fair to say that the Pound is closer to the top end of its 18-month trend as opposed to the bottom, and those planning on converting Pounds into Aussie Dollars should consider this.

Sentiment surround the Australian economy has been buoyed today after Australian Consumer Confidence figures came out better than expected in the early hours of this morning.

This is the best level since the end of 2013 and if economic data releases and gauges down under continue to impress we could see the Aussie strengthen and push the GBP/AUD rate back below 1.70.

If you’re following the pair and would like to be kept updated should there be a big move for the pair, do feel free to register your interest with me.

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.

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.

Will GBP/AUD break out of its current trading range? (Joseph Wright)

The Pound to Australian Dollar exchange rate has remained in the early 1.70’s for a few weeks now, with Sterling sellers basing the best trades off of mid-market levels of 1.73.

Since spiking up to just under 1.80 the GBP/AUD pair has corrected and I think that trade levels just over 1.70 are a fairer value for the pair, so it will be interesting to see whether any data or news will have the capacity to push the pair out of the current range.

Sterling has been boosted in recent days as UK Prime Minister, Theresa May has reshuffled her cabinet in order to create one that better reflects the society that she serves. There haven’t been any major shocks and the main members such as Philip Hammond, Boris Johnson and David Davies have kept their high profile positions.

The next step for Brexit negotiations will be trade talks, of course an important stage which may have a big impact on the Pounds value so it will certainly be worth following the talks. The transitional deal and how the UK is expected to perform during and after this period is likely to impact Sterling exchange rates.

The UK economy overperformed last year when we consider the forecasts from the majority of financial institutions, and I think if the UK puts in another strong performance we can expect to see the Pound push over 1.80 at some stage during the year.

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.

Sterling climbs slightly as political reshuffle springs no surprises (Joseph Wright)

Sterling sellers have seen a boost to the exchange rates available to them today, after the Pound is up across the board of major currency pairs even if only slightly.

This comes on a day that UK Prime Minister Theresa May has reshuffled her cabinet, with most moves being predictable according to political analysts.

Brexit related news is of course likely to continue to be one of the main drivers of Sterling price movements, although there are reports that the uncertainty surrounding Brexit is beginning to fade. Sterling volatility is expected to wane in the short term future after a market gauge that measures expected volatility was trading at a three-year low earlier today, which means that analysts aren’t expecting to see any market swings in the upcoming months for Sterling exchange rates.

Since the Brexit GBP/AUD has lost quite a lot of value, but the pair are currently trading towards the top end of the recent trend despite GBP losing some value recently as the Aussie Dollar strengthened.

Market predictors are one thing, but I personally wouldn’t rule out a big move in either direction for GBP to AUD exchange rates in the event of a major breakthrough or stumbling block being made public in regards to the second round of Brexit negotiations.

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.