Tag Archives: currency transfer

FED and EU Summit to drive GBPAUD exchagne rates

This week, events that are not directly involved with Australia and the United Kingdom will dictate GBPAUD exchange rates. 

The Federal Reserve which is the United States central bank, will release there latest interest rate decision Wednesday evening. Speculators are predicting that the FED will raise interest rates from 1.25% to 1.5% which will match the Australian interest rate. Regular readers will be aware that there is a direct correlation between the commodity currencies and the US dollar. As the US dollar is a safe haven and the commodity in some ways is a risk, I expect to see the Australian dollar sold off and the US dollar to be purchased.

The EU summit on the 14th and 15th December, should outline more detail about the Brexit negotiations. UK Prime Minister Theresa May has announced in recent weeks that Brexit negotiations are going well and therefore the UK and EU have agreed to start stage 2 negotiations. If the EU reiterate Theresa May I expect this could provide a further boost for sterling.

Therefore it looks like the Australian dollar could devalue Wednesday evening and the pound could have a finish to the week, therefore my forecast is for GBPAUD to break 1.80 by the close of play on Friday. If you have Australian dollars to sell and need to buy sterling I would recommend getting in touch as soon as possible.

If you are buying or selling Australian dollars in the upcoming weeks, months or years feel free to email me with the reason for your conversion (company invoice, buying a property) and 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! **

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.

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! **

Could GBPAUD break through 1.80 this week? (Dayle Littlejohn)

This week GBPAUD hit a 1 year high. Over the last three months the pound has been making considerable inroads against the Australian dollar. Exchange rates have increased from 1.62 to 1.77 and therefore a £200,000 currency transfer today compared to three months ago will generate our clients an additional AU$30,000.

The pound made further inroads against the Aussie last week when UK Prime Minister Theresa May announced that the UK are willing to pay €50bn to the EU as a divorce settlement and the EU appeared to be happy with the offer.

The UK Prime Minister Theresa May is set to meet President of the European Commision Jean Claude Juncker and President of the European Council Donald Tusk tomorrow to discuss Brexit further. The divorce settlement bill will be discussed further but a hot topic will be the Irish border.

This weekend in particular, The Republic of Ireland have stated a hard border splitting the Republic of Ireland and Northern Island is not an option and Donald Tusk has announced he would back Ireland over the UK as Ireland will remain a member of the EU.

Reports are suggesting that Theresa May’s teem believe it’s impossible to put a deal on the table for Ireland until the UK know the deal they will receive with the EU in regards to trade. Further reports Rumours suggest Mr Tusk actually agrees with Theresa May therefore I expect this topic will be put on hold on to trade discussions have begun. Therefore I expect the pound to continue to rise against that Australian dollar this week and in fact this month.

For people that buy and sell Australian dollars on a regular basis or are looking to make a one off transfer, the currency company I work for can save you money. Feel free to send me the reason for why you are converting currency, the currency pair you are trading (AUDGBP, AUDUSD), and the timescales you are working to and I will send you my forecast and the process of using our brokerage drl@currencies.co.uk.

GBP/AUD Forecast – Will Sterling Hit 1.80? (Matthew Vassallo)

GBP/AUD rates have fallen away slightly overnight, with the AUD finding plenty of support under 1.80.

The Pound had made significant gains over the past 72 hours following reports that the UK had agreed, at least in principal, a settlement deal with the EU worth up to 50 billion Euro.

GBP/AUD rates moved through 1.79, as investor confidence returned and the Pound benefitted as a result.

My opinion that we are working in a short-term opportunist market has not wavered and clients holding the Pound should be considering their positions around the current levels.

One of the driving forces behind this morning’s dip are reports regarding the Irish border. This has been a key point for the EU and one they have continually stressed must be agreed upon before Brexit negotiations can move on to phase two.

The DUP party have stressed that they will pull the plug on any proposed deal with the EU should Northern Ireland be treated any differently from the UK and with fears over a hard border between the North & South, it is clear that there are still many unanswered questions.

For this reason, I would be tempted to take advantage of the spike as the UK economy is still likely to remain under pressure over the coming months. Whatever the final bill is to be paid, it is sure to hit the UK economy hard over the coming years.

With many questions still to be answered regarding what sort of trade deal the UK can agree with the EU and how the UK economy may progress in unchartered territory, I would be looking to take advantage of short-term improvements such as the one that has presented itself, rather than holding out for longer-term sustainable gains.

If you have an upcoming GBP or AUD 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 inning 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.

Factors influencing GBPAUD exchange rates

In recent weeks the pound has been making considerable gains against the Australian dollar for a few reasons. The Reserve Bank of Australia more often than not have been giving dovish statements in regards to future interest rate hikes. The Governor has said that it’s likely the next decision will be to hike however this may be at the end of 2018 or even 2019.

The US federal reserve have been hinting towards raising interest rates in December which would mean US and Australian interest rate would be the same. Speculators have and will flock to the US dollar instead of the Aussie as its seen as a safer currency and therefore less risk. Less demand for the Australian dollar means it becomes cheaper to buy.

Deadline day is getting closer for the UK Prime Minister Theresa May. The EU Commission will meet on the 14th and 15th December to discuss whether trade negotiations can begin between the UK and EU. Reports are suggesting that the divorce bill and EU citizens rights could be agreed but the sticking point could still be the Irish border.

Personally I expect the Australian dollar could have a tough end to the year and major sell offs of Australian dollars into US dollars. Couple that with positive news from the Brexit negotiations, I expect GBPAUD exchange rates could push towards the 1.80 mark.

If you are trading GBPAUD this week, month or year I would recommend emailing me with the the reason for the transfer (company goods, property purchase) and your timescales and I will response with the options available to you drl@currencies.co.uk. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.

** If you are already using a brokerage, I would strongly recommend you compare rates as I am confident I will be able to offer you additional savings with your transfer. All you need to do is email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **

 

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.

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.