Tag Archives: best exchange rate

Pound to Aussie Dollar exchange rate falls again, will the downward trend for the Pound continue? (Joseph Wright)

The Pound to Aussie Dollar buying rate dropped again throughout today’s trading session, with the exchange rate dropping by 0.65% throughout the day up until the time of writing.

Not only are the financial markets and investors concerned about the political situation in the UK, with the outcome of the election being one of the worse case scenarios for the UK as it resulted in a Hung Parliament, but the rising rate of Inflation and lower wage growth becoming an issue that could rise to the surface very quickly.

If the rate of inflation continues to climb but the rate of wage growth continues to decline (as figures released today showed it happening for the 3rd month in a row), I think the Pound could find itself trading at a much lower rate than we’re currently witnessing.

My reasoning behind this is because the UK consumer has been propping up the UK economy since the Brexit, which has allowed the ship to steady to an extent after all the warnings from market analysts should the UK pubic have voted to leave the EU.

Should the current trend of higher costs of living in the UK continue I think the Pound may fall as I previously mentioned, and if you would like to be kept updated regarding this matter as well as any others that can potential impact GBP to AUD exchange rates, do feel free to get in touch with me.

There’s a plethora of data due out tomorrow for the UK specifically, so feel free to contact me overnight to discuss these events and how they could impact any short term currency exchange plans you may have.

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 consolidates above 1.70, will the Pound manage to hit 1.80 this year? (Joseph Wright)

The price movement between the Pound and the Aussie has been interesting today, and may offer those planning a currency conversion between the pair with a indication of what to expect in future.

Sterling exchange rates came under pressure across the board during today’s trading session as late last night a YouGov poll suggested that Theresa May’s (the current UK prime Minister) Conservative Party may lose its majority in the upcoming election, and this political uncertainty is weighing on the Pounds value as is often the case.

Interestingly the currency didn’t come under pressure against the Aussie Dollar, as the currency appears to be under pressure at the moment which leads me to believe that if the gap between the Labour Party and the Conservative Party in the UK widens, we can expect to see the Pound make up ground on the Aussie Dollar and maybe even breach the 8-month high of 1.7635 it hit recently and trade towards 1.80.

The Aussie Dollar has come under pressure since China was downgraded by Moody’s earlier this month, as the Chinese economy appears to be slowing which isn’t a positive sign for the Australian economy due to the two countries close trading ties.

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.

Factors impacting GBPAUD exchange rates (Dayle Littlejohn)

In recent months the Australian dollar has been losing ground against sterling for a few reasons. Firstly Iron ore prices, Australia’s largest export an a commodity that Australia heavily rely on has been falling in value. Last week Iron ore stockpiles at Chinese ports rose 1.7% to a record 134.25 million tons as of Friday, according to weekly data from Shanghai Steelhome E-Commerce Co. With reports suggestions China are having a slow down these stock piles continue to rise which in turn would have a negative impact on iron ore prices. Secondly the UK Prime Minister called for a snap election which also provided strength for the pound as a Conservative majority is likely which in turn would give the PM more power when negotiating Brexit.

However recent poor UK economic data has stopped the pound for making any further gains against the Australian dollar. The Bank of England have announced inflation is outpacing wage growth which is real problem for the UK public, however the Bank of England are not in the position to raise interest rates which would combat the inflation pressures.

Looking ahead I wouldn’t be surprised to see the Australian dollar continue to devalue as the FED are likely to raise interest rates in the upcoming months which would lead to a sell off of Australian dollars to buy US dollars and the also the problem with Iron ore is not going away. As for the UK as soon as the General Election is over Brexit negations will be in full swing.

The Bank of America Merrill Lynch Global Research have exclaimed Brexit negotiations could cause major swings for sterling exchange rates.  They told their clients they believe sterling’s good run is coming to an end. Personally I think it is impossible to predict how Brexit negotiations will unravel therefore gambling on this could go either way.

The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade Australian dollars at rates better than other brokerages and high street banks. I would recommend sending an email with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 0044 1494-787478 and ask to be put through to Dayle Littlejohn.

Will sour Brexit negotiations continue to weigh on the Pound? (Joseph Wright)

So far this week we’ve seen a very typical pattern of trading for the Pound against the Aussie Dollar.

Political uncertainty has been the main driver of price fluctuations for GBP exchange rates for the past year as the Brexit vote, and subsequent discussions surrounding the process of leaving the EU have continuously weighed on the Pound’s value.

At the same time Sterling has been boosted by impressive economic data during this time which has supported the Pound, so it will be interesting to see which of the two factors have the strongest bearing on GBP/AUD over time.

This week we’ve seen the same pattern continue as the Pound softened earlier this week as over the weekend the tensions between the UK and EU surfaced after the European Commission’s President Jean Claude Juncker commented that UK Prime Minister Theresa May ‘is living in another galaxy’ regarding Brexit negotiations.

Despite the Pound falling in the wake of these comments the currency has since taken a turn for the better as yesterday mornings UK Manufacturing data release came out at its highest level in 3 years. This data showed that sentiment within the UK’s manufacturing sector is going strong at the moment which has been aided by the weaker Pound.

Moving forward I expect data out of the UK to be watched closely as investors will be keen to see how the UK is performing during this crucial two-year period of 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.

Pound to Aussie Dollar rate hits a new 2017 high as inflation data disappoints, will the trend continue? (Joseph Wright)

The Pound has hit a new high against the Aussie Dollar today, as the pair have hit 1.7220 at one stage during today’s trading session.

The upward movement for the Pound begun early mostly due to Aussie Dollar weakness, as in the early hours of this morning the Australian inflation data came out worse than expected on both an annual and monthly basis albeit not drastically.

At the same time Sterling has performed well across the board during today’s trading session and at the time of writing the currency is up against all major currency pairs.

There has been talk of the Australian economy slowing in recent months, and with the US Fed Reserve now likely to continue to raise interest rates throughout the year I think the Aussie may end up trading quite considerably lower against the Pound as the year progresses. An increasing interest rate in the US could be bad news for the Australian Dollar as its likely that investors would rather hold their funds in the US due to the higher level of security it offers.

Limited demand for the Aussie Dollar is the reason I think we could see the GBP to AUD rate improve as the year goes on, but I do think that if the conservatives in the UK don’t win the election in June we could see another sell-off for the Pound.

If you are planning to make a currency exchange involving the Pound and the Aussie Dollar, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

Will risk aversion within the markets continue to weaken the Aussie Dollar? (Joseph Wright)

The Pound is proving resilient in the current market, and despite posting losses towards the end of last week after some less than impressive economic data releases the Pound is remaining strong.

Last Friday data revealed a decline in UK industrial/manufacturing production, and it was also announced that the UK’s trade deficit has expanded. Despite this the Pound is still holding onto the gains its made since the Brexit officially begun and for those planning on making a GBP to AUD transfer, it’s worth noting that the Pound is up 7 cents from its lowest point throughout 2017.

The Pound to Aussie Dollar rate has also been boosted due to AUD weakness as the action taken by Donald Trump in Syria has resulted in risk averse markets, and look no further than the boosts to golds value to confirm this. Commodity currencies tend to weaken in times of risk aversion and the Aussies recent moves have left the currency trading at a three-month low against the US Dollar.

There is also the issue of the housing market in Australia overheating and this issue keeps hitting the headlines.

There’s an argument to suggest that a weaker currency is a benefit for Australia’s export driven economy so I wouldn’t rule out a move from the Reserve Bank of Australia in order to weaken the currency further in order to keep the economy competitive.

Moving forward I’m expecting to see the Pound recover more ground from AUD after the initial drop after the Brexit vote. Those converting Aussie Dollars into Pounds are still in a great position after that drop, but the gains are slipping away as GBP/AUD recovers back to levels closer to 1.70 than 1.60.

If you are planning to make a currency exchange involving the Pound and the Australian Dollar, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

 

Will the Pound to Australian Dollar rate rise now that Brexit is underway? (Joseph Wright)

With Brexit underway and the UK having up until the 29th of March 2019 to arrange trade agreements, the pressure on the Pound appears to have eased.

The Pound to Australian Dollar rate hit its highest level on Tuesday afternoon which was just below 1.65, and I think if the Pound manages to break above this level and consolidate above 1.65 we could see the GBP/AUD climb back up to the 1.70 level.

While the political uncertainty surrounding the UK has previously weighed on Sterling’s value as is often the case in these times, the invoking of Article 50 has given the Pound a boost against most major currency pairs. Couple this with the limited demand for AUD as the US has recently hiked interest rates and plans to a number of times this year, I’m expecting to see the Pound climb over the medium to long term versus the Aussie Dollar unless trade negotiations hit a standstill.

Later this morning there will be an important economic news release in the form of Services PMI. This offers us an insight into market sentiment within the services sector which is a key driver for the UK economy. Expect any deviations from the expected figure of 53.5 to create movement between GBP exchange rates and feel free to get in touch if you wish to plan around this or any other key data releases.

There are tools available to our clients to help them trade at higher levels than currently available, such as Limit Orders. If you’re planning a currency exchange between the Pound and the Aussie Dollar its worth getting in touch to discuss these types of options as well as our commercial level exchange rates as we may be able to save you a considerable amount of money, especially when compared with the typical bank.

If you are planning to make a currency exchange involving the Pound and the Australian Dollar, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

GBP/AUD remains range-bound as the Brexit process begins, where to next for GBP/AUD? (Joseph Wright)

Despite this week being historic for the UK the Pound has remained relatively flat vs the Australian Dollar throughout the week, and at the time of writing the currency has moved less than 1% against the Aussie since the week’s beginning.

I’m of the opinion that the Brexit has been priced into the Pounds value, and I’m not expecting to see another major sell-off in the pound. I made this prediction prior to the UK’s triggering of Article 50 and I think moving forward the only factor that could cause another historic drop like the one we saw last June would be if it becomes public that trade negotiations are going terribly for the UK during this key 2-year period.

Later this morning there will be GDP figures released for the UK, with expectations of 2% annually and 0.7% on a quarterly basis. I think that economic data out of the UK is likely to be watched closely by financial markets due to the UK’s ongoing plans to leave the EU. If you would like to be kept updated regarding key data releases and sharp price movements between the Pound and the Aussie Dollar do feel free to register your details with me and I’ll be happy to keep you updated.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

GBP/AUD gains in the lead up to Brexit’s official start, where to next for GBP/AUD? (Joseph Wright)

Investor fears surrounding the UK economy appear to have waned over the past week or so, as the Pound has once again gained across the board of major currency pairs during today’s trading session.

Those converting Aussie Dollars into Pounds are seeing the exchange rates offered weaken on almost a daily basis at the moment. At the beginning of last week the mid-market rate sat at 0.6250 whereas it’s currently trading at 0.6066, losing almost 2 cents in a short period of time.

Personally, I’m not expecting to see the Pound sold off heavily once the UK makes its intentions to leave the EU official. The Brexit is now arguably priced into the Pound’s value and I think the reason GBP/AUD has risen quite substantially is due to both the certainty the deadline date of the 29th of March has given the markets, as well as the likelihood of future interest rate  changes from both the Bank of England and Reserve Bank of Australia.

The rise in US interest rates has also limited demand for the Aussie Dollar as investors switch funds from the high yielding Aussie Dollar and into the safe haven currency of the US Dollar.

The BoE’s next interest rate change is looking like it will be a rise to counter rising inflation, so moving forward I’m expecting to see the GBP/AUD rate test 1.70 as opposed to 1.60. I think the potential downside for Sterling’s value could come from a breakdown in trade negotiations as the Brexit begins so those hoping the Pound climbs further from here should close attention to this topic.

If you are planning to make a currency exchange involving the Pound and the Aussie Dollar, it’s well worth your time getting in contact with me on jxw@currencies.co.uk in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.

Will the Australian dollar rise or fall against the pound?

The pound to Australian dollar exchange rates has improved lately as the pound finds some better form and the Australian softens every so slightly. In the most recent communications from the RBA (Reserve Bank of Australia), we learned that the RBA are concerned over rising house prices. We also learned that the RBA view the currency as too strong and whilst only a few weeks ago the view was that the RBA might raise interest rates later this year, for now, the direction appears to me to be fairly neutral. If you are making a GBPAUD exchange in the coming weeks I believe a big factor will be the Article 50 direction for sterling. With plenty of volatility expected nothing should be too readily assumed!

GBPAUD hit 1.59 last week as the lack of interest rate hikes in the United States presented a weaker US dollar. As the US dollar was sold off it benefitted the Australian currency as the Aussie is used by investors to benefit from its higher interest rates. By ‘parking’ funds in Australian dollars, investors have a higher rate of interest and therefore earn more on their money. Such trends help the Australian to strengthen and this partly explains some of the overall strength of the Australian dollar against the pound.

I would expect GBPAUD rates could move as much as 11 cents between the high and the low as markets digest the release of Article 50. I forecast rates between 1.56 and 1.67 depending on how the market receives the news. Because this has never happened before the scope and potential for swings are high.

If you have a transfer involving buying or selling Australian dollars then making some plans in advance is vital. If you would like some assistance with the timing and planning of any transfers you may contact me directly on jmw@currencies.co.uk. I have worked for almost ten years assisting clients buying and selling Australian dollars for pounds and am positive I can offer some useful assistance with a really good exchange rate (above other companies) and some useful information to make an informed decision on when to buy your currency.