Tag Archives: buying australian dollars

Sterling hits 18 month high to buy the Australian Dollar (Tom Holian)

The Pound hit an 18 month high to buy Australian Dollars on Friday after it was announced that Prime Minister Theresa May has managed to secure a deal in order to take things forward with the Brexit discussions at next week’s EU summit.

The divorce bill has been agreed which will be between £35bn-£39bn as well as agreeing no hard border between Northern Ireland and the Republic.

The rights of citizens has been agreed across both the UK and the EU which is great news for all concerned and this gave the Pound a huge lift on Friday morning against all major currencies including vs the Australian Dollar.

However, it appears as though the good news did lot last for that long as the Pound fell against the Australian Dollar towards the ends of Friday afternoon.

It could be argued that investors caused a big over reaction as although the news was clearly positive as it allows the talks to progress to phase two at next week’s EU summit, we are still headed for a very uncertain future over the next few months.

On Tuesday we could see further movement for Sterling vs the Australian Dollar when the latest set of inflation data is announced so make sure you’re prepared to move quickly if you need to make a currency transfer involving Australian Dollars.

If you’re in the process of either buying or selling Australian Dollars and would like to be kept updated with what is happening over the next few days then contact me directly for a free quote.

Having worked for one of the UK’s leading currency brokers since 2003 I am confident not only of being able to offer you better exchange rates than using your own bank but also help you with the timing of your trade.

Contact me directly Tom Holian teh@currencies.co.uk and I look forward to hearing from you.

Will the Pound hit 1.80 against the Australian Dollar? (Tom Holian)

The Pound has maintained its strength against the Australian Dollar during the course of the week even though the the political situation in the UK remains uncertain concerning the Brexit talks.

The DUP are rejecting a ‘regulatory alignment’ between Northern Ireland and Ireland which is also being resisted against by a number of other members in government. The DUP are unlikely to allow a border in the middle of the sea as this could cause huge problems politically for Ireland.

Although the Brexit is clearly causing a lot of uncertainty at the moment there appear to be real problems for the economy down under in Australia.

Australian GDP figures released showed a big drop from 0.9% in quarter two to 0.6% in the previous quarter. This is likely to keep interest rates on hold as the RBA clearly will not want to cause a downturn for the economy.

Indeed, consumer spending has also seen a big slowdown in Australia which has slowed at is lowest pace since 2008 which is another reason for GBPAUD exchange rates moving in an upwards direction.

I think the Brexit is the biggest issue to concern anyone with a requirement to either buy or sell Australian Dollars but with things slowing down under this is the reason why I think there is a possibility we’ll see GBPAUD exchange rates move towards 1.80.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

Pound to Aussie Dollar hovers around a 18-month highs, will the Pound hold on to its recent gains? (Joseph Wright)

The Pound has managed so far to hold onto its recent gains against the Aussie Dollar, despite stalls to Brexit negotiations hitting the headlines over the past week.

There has been hopes of a agreed Brexit bill announcement this week, which would likely push the Pound higher but the there sticking point of Northern Ireland’s terms and its border is proving to be a stumbling block at the moment.

The UK’s Prime Minister, Theresa May has come under pressure for her dealings with her EU counterparts this week after many had expected to see the Brexit bill agreed, only to be disappointed to discover the Northern Irish border issue throw a spanner in the works.

Once the Brexit bill has been agreed the path is cleared for Brexit trade negotiations to begin between the UK and the remaining EU members, which I expect to be a positive for the UK and therefore the Pound. I also think that should a transitional deal be agreed we can expect to see the Pound climb also.

On a negative note for the Pound, should there be further stalls regarding any deals I think the Pound could see a sharp sell-off across the board as the UK is running out of time to make progress at the negotiating table.

If you would like to be updated in the wake of a short term price change between the Pound and the Aussie Dollar, 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 continue to rise against the Australian Dollar? (Tom Holian)

The Pound has continued its excellent run of late vs the Australian Dollar ending the week trading in the 1.77 territory on the Interbank level.

The next target that many are hoping for is for GBPAUD exchange rates to continue to rise and hit 1.80.

We are certainly heading in that direction and with many of the commodity based currencies we have seen a lot of weakening in recent weeks.

On Tuesday, Australia announces its latest Retail Sales figures as well as Current Account Balance data.

Both have seen a slowdown recently and this is in part another reason for the weakening of the Australian Dollar.

Also out on Tuesday is the latest Reserve Bank of Australia’s interest rate decision. The likelihood is that we’ll see the interest rate kept on hold for again for another month.

The accompanying statement if it suggests that rates will be kept on hold for a long period of time could be the catalyst to send GBAUD rates in an upwards direction and this could possibly tip things again towards 1.80 on the Interbank level.

Part of the recent gains for Sterling is the increasing rumour that a divorce bill is prepared of approximately EUR50bn in order to get the next set of talks heading in the right direction. With the next EU summit due in a fortnight if the talks go well again this could help the Pound make further improvements.

However, one clear sticking point is the Irish border issue and as yet this has not been decided. Clearly both countries do not want a physical divide so if this subject does not get resolved this could cause real problems for Sterling.

If you need to make a currency transfer over the next few days or weeks and would like further information or a free quote when buying or selling currency then feel free to get in touch.

Having worked in the foreign exchange industry since 2003 I am confident of not only being able to offer you bank beating exchange rates but also help you with the timing

To find out more contact me directly Tom Holian teh@currencies.co.uk

 

Pound hits best rate to buy Australian Dollars in 2017 (Tom Holian)

The Pound has now hit its best rate to buy Australian Dollars all year as it looks as though we could be seeing some positive movement behind the scenes with the ongoing Brexit negotiations.

The Pound has finally broken through the resistance barrier of 1.75 and has touched 1.78 earlier this morning but has started to slip back as we see a little bit of short term profit taking.

The figures that have been suggested are approx €50bn as part of the divorce bill although this figure will probably be more like €100bn as the UK may have to pay for its liabilities that it has committed to previously.

The good news for anyone holding Sterling is that the talks appear to be going in the right direction at the moment and this has really helped to improve the outlook for Sterling exchange rates particularly against the commodity based currencies including the Australian Dollar.

Tomorrow morning brings with it the latest RBA Commodity Index which is an early indicator of export price changes. We have seen this fall in recent months so any further slowdown could see GBPAUD exchange rates go in an upwards direction towards the end of the week.

The rate to buy Australian Dollars will clearly be impacted by what is happening with the Brexit and if the discussions continue to go in the right direction we could see the market continue to improve in Sterling’s favour.

With the next EU summit due to take place in mid-December this could be the critical event that will impact GBPAUD exchange rates so expect to see a lot of volatility.

With GBPAUD exchange rates already rather volatile in the last few weeks it may be worth removing the risk of what may happen to rates by buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

 

Pound spikes to a 1-year high after Brexit Bill breakthrough! (Joseph Wright)

The Pound has spiked in the early hours of this morning, hitting a new 1-year high against the Aussie Dollar as the Pound gains across the board of major currency pairs.

The reason for the spike is due to the much speculated Brexit Bill figure apparently being agreed between UK and European counterparts, with the figure reportedly being around £50bn. The cost is to cover accrued European debts and liabilities over the past 44 years of EU membership, and despite being such a high figure the market reaction has been a boost to Sterling’s value.

The market belief is that this Brexit Bill agreement is now likely to pave the way for trade negotiations to begin between the UK and the EU, therefore reducing the likelihood of a disorderly Brexit or Hard Brexit as many have labelled it.

With regards to the GBP to AUD rate, I would now expect to see the rate hit 1.80 as opposed to 1.70 next as should Brexit negotiations progress I expect to see the Pound continue to climb as confidence returns to the markets.

Economic data out of the UK is quiet for the remainder of the week, which means the GBP/AUD pair may continue to be driven by sentiment which favours the Pound after this latest Brexit update.

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.

 

Australian dollar is much weaker and could get even weaker! GBPAUD and EURAUD forecast

The Australian dollar is much weaker overall as concerns grow over the strength of the Chinese economy and also other currencies become more favourable to hold. The expectation is that for the Australian dollar and the Reserve Bank of Australia there will be no interest rate rise any time soon and this will see the currency weaker.

The Australia dollar is a beneficiary of improved global confidence particularly in China. China is a major economy and the strength of the Australian dollar is widely attributable to the strength and weakness of the Chinese economy. Overall impressions for the future centre around a weaker Chinese economy as evidenced by the concerns over the stock market in China which has a large public following

Concerns about the possibly negative outlook on the Chinese economy has troubled the market and this has seen Aussie weaker as a wider reflection of stability in the region.

With sterling finding much favour as the UK government makes gentle progress on Brexit and the Euro also finding form on the back of progress with German coalition talks, GBPAUD and EURAUD have both risen hitting 1.7556 and 1.5697 on the interbank rates. This is presenting excellent fresh opportunities on both currency pairs which should be monitored very closely for potential buyers.

If you have a transfer buying or selling Australian dollars, global events are increasingly driving the Aussie exchange rates, as opposed to domestic news in the Australian economy. Trying to anticipate and monitor the current outlook is no easy feat but it does seem like for now the Aussie will remain weaker.

Longer term trends could easily see the Aussie regain back these losses but for Aussie holders this could prove an expensive gamble. For more information at no cost or obligation please don’t hesitate to contact me Jonathan Watson by emailing jmw@currencies.co.uk.

Thank you for reading and I look forward to hearing from and assisting you.

Could the Pound make further gains against the Australian Dollar before the end of the year? (Tom Holian)

The Pound has remained strong against the Australian Dollar during the course of the week and I think we could see some further gains coming for the Pound.

The recent US economic data has showed a couple of lower than expected data releases including Services and Durable Goods orders and this has provided evidence that the US economy may be slowing down a little.

The releases in my opinion are not really a big cause for concern but it does show that things are not going as well as expected.

The US Federal Reserve have almost guaranteed that they will be raising interest rates at next month’s meeting but with this week’s data this could see a slowdown of policy during 2018.

Whenever the US displays signs of a slowdown it tends to weaken commodity based currencies including the Australian Dollar and this is one of the reasons for the Pound making gains vs the Australian Dollar in recent times.

Turning the focus back down under the Reserve Bank of Australia has recently stated they will be keeping monetary policy the same for a long time to come as wage pressures have come onto the agenda.

With only a few weeks before the end of the year the Pound is now trading at its best rate to buy Australian Dollars since May and I think depending on how the Brexit talks go in the next fortnight I think we could see further gains for GBPAUD exchange rates.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

Best rate to buy Australian Dollars with Pounds in 6 months (Tom Holian)

The Pound has hit its best rate to buy Australian Dollars since May this year as the antipodean currencies have weakened significantly during the last week of trading.

Australian employment figures are looking very strong and typically this would see help to strengthen the Australian Dollar against the Pound but the RBA have suggested that they do not want to tamper with economic policy whilst the labour market is going well.

Indeed, some recent predictions are that we will not see an interest rate hike until earliest 2019 which is why we have seen GBPAUD exchange rates going in an upwards direction recently.

The Pound has reversed its losses from earlier on this month when it increased interest rates at the Bank of England’s meeting and I think we could see further gains ahead.

With the US Federal Reserve looking more and more likely to raise interest rates at next month’s meeting due to be held on December 13th, it appears as though global investors are moving money away from the riskier commodity based currencies which includes the NZD and AUD, which is another reason for the positive gains seen by the Pound vs the Australian Dollar.

On Tuesday the Reserve Bank of Australia will release their latest set of minutes and I think we could see further weakness for the Australian Dollar if the minutes confirm that interest rates will be kept on hold for quite some time to come.

If you are in the process of selling Australian Dollars into Sterling but don’t have the full amount of funds available at the moment it may be worth considering buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.

If you need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me with details of your requirement and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on teh@currencies.co.uk and I will respond to you as soon as I can.

UK economy growth is picking up, will GBP/AUD reach 1.75 again in the near-term future?

The Pound has picked up once again this afternoon after some better than expected economic data, this time in the form of GDP figures has boosted the markets.

This means that UK economic output in the months of July-September grew by 0.4% whereas it’s grown by 0.5% from August-October. This is of course positive news for the Pound and the Pound is now trading around the 1.7250 mark at the time of writing.

The highest the GBP/AUD rate has traded in the last year is 1.7650 so the rate is now within 4 cents of the best levels so it appears that the rate hike last week from the Bank of England has boosted sentiment surrounding the UK economy.

The think-tank that produced today’s GDP figures also believes that the Bank of England will have raised interest rates to 2% by 2021 which is a bit more bullish than the comments outlined by the BoE last week when rates were hiked, and I think that the Pound would climb quite considerably from its current levels should such a bullish monetary policy be adopted by the BoE.

The next busy day for economic data is Tuesday next week, so feel free to get in touch in the meantime if you would like to plan around this event, should you have any upcoming currency requirements.

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.