Tag Archives: currency broker

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.

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.

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.

Is the Pound now overvalued against the Aussie Dollar? (Joseph Wright)

After a strong run for the Pound in recent weeks the pair remain lodged just below the 1.80 mark, which leads me to believe that there may be ceiling for the pair at 1.80 moving forward.

Last week the pair hit a 17-month high after the Pound has benefited off the back of positive Brexit talks, with the current Prime Minister, Theresa May receiving plaudits for her efforts addressing the issue of the Northern Irish border along with the Brexit bill.

Whilst there has been a lot of positive sentiment surrounding the UK and the Pound recently, the Aussie Dollar has been coming under pressure due to fears of a slowing economy down under.

The Aussie Dollar has also been coming under pressure as the Fed Reserve Bank in the US has hiked US interest rates twice (soon to be 3 times if economists predictions are correct) this year. The increasing interest rates in the US have increased demand for the US Dollar and this has seen the Aussie Dollar drop as demand has slowed as investors prefer to hold funds in US Dollars now they can get a return.

Moving forward I think that whether or not the Brexit process continues to progress will determine whether or not the Pound climbs, and it’s certainty worth following the GBP/AUD pair when they trade around 1.80 as this benchmark level is key in my opinion.

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.

How long will this period of Australian dollar strength against sterling?

My recent article this weekend suggested that there was a possibility that GBPAUD could reach 1.80 in the upcoming weeks and until late yesterday afternoon this prediction looked very likely. However the DUP at the close of business yesterday evening announced they are unhappy that UK Prime Minister could offer a different border control for Northern Ireland compared to the rest of the UK. Off the back of the news the pound lost ground against all of the G10 currencies and the Australian dollar.

Later that evening, the Reserve Bank of Australia held interest rates at 1.5%, which was no surprise, however surprisingly the Reserve Bank of Australia’s commentary was extremely positive which strengthened the Australian dollar further against the pound. With the amount of strength we have seen for the Aussie rumors the Reserve Bank of Australia may appear to be backtracking and actually could raise interest rates early next year. If this is the case, it’s quite clear that the RBA have been jawboning in an attempt

However, I’m still of the opinion that the UK will secure some kind of deal in the upcoming weeks with the EU which will mean trade negotiations will begin in the New Year. If this is the case this period of strength for the Australian dollar against sterling could be short lived therefore I would recommend any client converting Australian dollars into sterling should look to make arrangements sooner rather than later.

If you are converting pounds into Australian dollars as you are emigrating or if you are leaving Australia to move to the UK and need to buy pounds in the upcoming weeks, months or years feel free to email me with the the timescales you are working to and I will email you with my forecast and the process of using our company drl@currencies.co.uk.

** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you minutes and in the past I have saved clients thousands! **

Pound to Australian Dollar rate hits a 5-month high, will the upward trend continue? (Joseph Wright)

Those following the GBP/AUD rate will be aware of the positive moves for the Pound recently, and within the past 24 hours the rate has hit a 5-month high making it a good time for Sterling sellers.

The rate has traded within just 2 and a half cents of the best levels in the last year, so the questions are now being asked as to whether the pair can reach a new 1-year high.

Those with a currency requirement involving the pair should be aware that the Pound isn’t trading in such a strong fashion against many other major currency pairs, and that in my opinion there is potential for the Pound to fall for a number of reasons.

The UK Prime Minister, Theresa May is currently under pressure as rumours build that there a a number of members of her party prepared to sign a vote of no-confidence regarding her position. Should this issue surface I would personally expect to see the Pound fall quite dramatically against the Aussie Dollar amongst other major currencies.

At the same time inflation hasn’t quite hit the high levels the Bank of England was expecting to see so the chances of future rate hikes have diminished somewhat, certainty regarding the short term future.

If you’re following the GBP/AUD rate and would like to be kept updated to any major swings in the rate, 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 improve against the Australian Dollar next week? (Tom Holian)

As predicted in my previous articles the Pound has shaken off the problems against the Australian Dollar following last week’s interest rate decision which saw the GBPAUD exchange rate move in a downwards direction.

The UK economy has proved once again that it is resilient even though politically we are facing the challenge of the ongoing Brexit uncertainty.

GBPAUD exchange rates are once again moving in the right direction breaking through 1.72 on a couple of occasions already this week.

The Brexit talks appear to be moving in the right direction with Theresa May and Michel Barnier both suggesting that behind the scenes progress is being made.

The real issue surrounding Brexit is what the divorce bill will cost and when it will be paid which is one of the sticking points of the discussions.

We have a very eventful week ahead with the release of a number of different economic data due over the next few days.

UK Inflation is due out on Tuesday and this has been a big factor in the recent decision by the Bank of England to raise interest rates earlier this month. Therefore, this could also cause a lot of volatility for GBPAUD exchange rates.

Also, next week is the release of UK unemployment data and with the jobs data performing very well during 2017 I think we could see GBPAUD rates improve by the middle of next week which could provide a good opportunity to look at buying Australian Dollars with Pounds.

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 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.

Australian Dollar to Pound exchange rate drops as Australian GDP data disappoints, will there be a reversal of the AUD/GBP trend? (Joseph Wright)

The Australian Dollar has recently strengthened quite considerably against the Pound, although the trend has been reversed this morning after Australian GDP figures failed to impress the markets enough for the bullish run to continue.

During the second quarter of this year the Australian economy grew at a rate of 0.8% which was in line with what economists were expecting, and it appears that the Aussie Dollar will need some more positive data to come out in order for the currency to once again reach its post-Brexit vote highs.

The Pound has been coming under pressure in recent weeks after fears surrounding the final ‘Brexit Bill’ cost have surfaced, as well as uncertainty surrounding how the Brexit negotiations are going so far with some suggesting they have got off to a bad start.

Yesterday data out of the UK showed that the services sector within the UK has hit an 11-month low which is important sector for the UK due to it accounting for around 80% of the UK economy. Despite this negative news the Pound is still climbing against the Aussie Dollar which to me demonstrates that the Aussie Dollar bullish run is potentially coming to an end.

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 Brexit uncertainty continue to push GBP/AUD lower, and will we see trade levels below 1.60 again this year? (Joseph Wright)

Economists appear to be concerned by the almost daily dropping of the Pound, as uncertainty surrounding the terms of the Brexit deal are putting alot of pressure on the Pounds value.

Many are predicting that the pound will be trading lower into 2018 than current levels, and although this blog is focused predominantly on the GBP/AUD exchange rate I think it’s useful for our readers to know that many major institutions are predicting that the Pound will fall below parity against the Euro for the first time in 2018.

Interestingly earlier this week the National Australian Bank predicted that the Australian Dollar will actually lose value against the Pound between now and the end of the year, although only marginally.

This prediction appears to buck the trend of general negative outlooks surrounding the pound as concerns over the UK economy as we enter Brexit are generally outweighing other factors.

This weekend there could be movement for the Pound to Aussie Dollar exchange rate as a number of key financial figures such as US Fed Chairlady Janet Yellen and European Central Bank president Mario Draghi will be speaking Jackson Hole central banking conference. This will be happening out of hours so expect any major announcements to impact the rates perhaps late tonight or when markets open next week.

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 return to its March lows and trade in the 1.50’s once again? (Joseph Wright)

Unfortunately for those planning on exchanging Pounds into Australian Dollars in the short term future, the Pound appears to be on track to return to it’s post-Brexit vote lows.

It was back in March when GBP/AUD broke below 1.60 before recovering. The Pound is coming under pressure against most major currency pairs at the moment with just a few exceptions such as the Swiss Franc.

For those with a need to exchange the Pound into Aussie Dollars its worth noting that the Pound hit fresh lows against the Euro during today’s trading session, so if the Pound to Aussie Dollar rate is to follow suite the pair have another 5 or so cents before that happens.

At 11am tomorrow there could be movement between the GBP/AUD pair as an Inflation Report Hearing in the UK will take place, and due to the inflation levels in the UK currently under the microscope due to the fall in the value of the Pound I expect investors to listen closely for hints at future monetary policy in the UK. I wouldn’t completely rule out an interest rate hike this year if need be and talk of one could provide the Pound with a much needed boost.

On Thursday afternoon there will be a GDP estimate figure for the past 3-months to July, and this release comes after a bout of data on Instruction and Manufacturing which could also impact Sterling/Aussie exchange rates should the outcomes deviate greatly from expectations.

If you have an upcoming currency requirement involving the Pound and Aussie Dollar, do feel free to get in touch as I’ll be happy to discuss our commercial exchange rates with you, along with my opinion on potential future price fluctuations. You can email me an outline of your plans to jxw@currencies.co.uk or even provide with a telephone number if you wish to discuss it as soon as possible.