Tag Archives: exchange rates

GBPAUD breaks through 1.70 (Dayle Littlejohn)

In recent weeks the pound has been losing ground against the Australian dollar and exchange rates have fallen from 1.75 to 1.67. However today Governor of the Bank of England Mark Carney has given Australian dollar buyers something to smile about, as UK interest rates could be hiked in the upcoming months, which would provide strength for sterling as investors look for higher returns on their investments.

The Governor announced today that the MPC will be debating interest rates in the upcoming months and a rate rise all depends on business investment, wage growth, Brexit negotiations and costs for labour.

Off the back of the positive news for the pound GBPAUD has now breached 1.70. To put this into monetary terms the 3 cent improvement this week will save clients £10,000 when purchasing 1,000,000 Australian dollars.

Looking further ahead I expect the pound to continue the upward trend for the remainder of the week and into next week as UK Prime Minister Theresa May should be able to put the election behind her when MPs vote on the queens speech later this week.

The leader of the opposition Jeremy Corbyn has stated he will try to make amendments to the Queens speech but in reality I can’t see any conservative MP voting against their own party, therefore this story should be over by this time next week.

If you are buying or selling Australian dollar 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! **

GBPAUD exchange rates fall to a 8 week low! (Dayle Littlejohn)

Pound vs Australian dollar exchange rates have reached an 8 week low this week due to sterling devaluing and the Australian dollar strengthening. To put this into monetary terms over the last 2 weeks exchange rates have dropped 5 1/2 cents which means a 200,000 Australian dollar purchase is now £3,850 more expensive.

Starting with the Australian dollar GDP numbers have remained resilient this month, and positive business sales growth coupled with increased consumer spending has strengthened the Australian dollar. In addition the Philip Lowe (Governor of the Reserve Bank of Australia) also commented earlier in the week that the global economy is in better shape than previous years which is helping the commodity currencies. This was a surprise statement as iron ore prices continue to remain under pressure due to a slow down in China.

As for the pound the Governor of the Bank of England gave a dovish statement yesterday and confirmed the UK are not in the position to raise interest rates anytime soon even though three members of the Bank of England voted to hike rates only 6 days ago. Furthermore Brexit negotiations have begun and are putting pressure on sterling as the market is nervous about a deal being struck in regards to the divorce settlement.

In my opinion it is impossible to predict how Brexit negotiations will impact the pound. Positive news will strengthen the pound negative will do the opposite. I am optimistic that deal will be struck eventually however other traders on the floor are not. If you are purchasing pounds with Australian dollars or vice versa I would recommend getting in touch and I will keep you up to date with regular information until you are ready to convert drl@currencies.co.uk.

If you are buying or selling Australian dollars in the upcoming months and want to achieve rates of exchange that are better than your bank, whilst receiving regular economic information feel free to email me with the currency pair (AUDGBP, AUDEUR, AUDUSD) the reason for the transfer (company invoice, property purchase) the timescales you are working to and I will respond with my forecast and the process of converting currency. My direct email address is drl@currencies.co.uk and I look forward to receiving your email.

Australian GDP provides strength for the Australian dollar (Dayle Littlejohn)

In the early hours of this morning Australia released their latest GDP numbers. As expected yearly and quarterly figures fell from previous figures however the numbers exceeded expectation. Yearly figures were released at 1.7% up 0.2%, and quarterly figures were released at 0.3, 0.1% higher than the consensus.

The Australian dollar has strengthened off the back of the next and GBPAUD exchange rates have dropped 0.65% and therefore 1 1/4 cents. To put this into monetary terms, for Australian dollars sellers buying £200,000 will now save themselves 2,500 dollars.

It’s a busy week for GBPAUD exchange rates as the UK General election is on the horizon. Theresa May and Jeremy Corbyn are still touring the country trying to sway the undecided voter. In recent days security has been a major talking point and Jeremy Corbyn has been on the attack insisting Theresa May should resign as the Conservative parties police cuts have made the streets of the UK less safe.

Theresa May has hit back stating that the police are well resources however she has also stated that she will change human rights laws in a bid to crack down on terrorism.

Towards the end of the week I am expecting major volatility for sterling vs Australian dollar exchange rates. If Theresa May wins a majority I expect the pound to make inroads against the Australian dollar and rates to increase back towards the mid 1.70s and beyond. However any other result I believe GBPAUD will fall back towards the mid 1.60s.

If you are converting sterling and Australian dollars short term, you need to make a decision now. The currency company I work for saves clients money on their currency conversions whilst offering up to date market information which helps the client make informed decisions. Therefore if you have an upcoming currency requirement and would like to save money feel free to email me directly on 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 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 a few minutes and in the past I have saved clients thousands! **

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.

Buying Australian Dollar rates slip with increased election uncertainty (Joshua Privett)

Buying and selling Australian Dollar exchange rates have been hit heavily heading into the Bank Holiday weekend, as uncertainty about the upcoming election, now just 10 days away, undercuts Sterling against its major currency pairings.

The resurgence for Labour is staggering. The same company which revealed the slim margin of 4% in favour of the Tories had identified a 20+ point lead at the beginning of campaigning season just over a month ago.

With the bank holiday UK markets are onlookers for the day today, and we are already seeing a small recovery in the Pound. However, this form of minor rebalancing is common after more serious movements the previous trading day.

Moving forward you can expect GBP/AUD exchange rates to continue to reflect the changing dynamics in the polls. Currently the Tories are still ahead, and anyone with an Australian Dollar buying requirement will need for this to remain this way.

Financial markets are keener for a strong Conservative victory, as they are hoping for continuation in policy, and expect a beneficial effect on having an elected PM with a mandate in the upcoming Brexit negotiations.

However, a 4% lead is what was expected for the Remain camp in the recent Referendum, which clearly did not manifest. So financial insitutions are unlikely to bet on a positive oucome without a more commanding lead for the Conservatives

Without demand for Sterling its value would career downwards, making the Australian Dollar a more expensive prospect for anyone with an upcoming requirement.

Anyone with an Australian Dollar requirement in the immediate term may be wise to contact me to discuss a strategy on how to approach the vote to secure any targetted peaks and ensure you are better protected from any downside risk.

It could even be that the slight resurgence on exchange rates recorded today will be the best buying levels available before the election itself.

I have never had an issue securing more commercial exchange rates than what is on offer elsewhere. Contact me over the bank holiday weekend on jjp@currencies.co.uk while markets are closed for a short discussion concerning your personal situation.

Pound to Aussie Dollar rate continues to fall over UK economic outlook concerns, will the downward trend continue? (Joseph Wright)

The Pound to Aussie Dollar exchange rate fell into the 1.73’s earlier today as the downward pressure upon the Pound continued.

Despite still trading in the 1.70’s the GBP/AUD pair has fallen from its 8-month high as the currency is falling against all major currency pairs, with the drop against some currencies being steeper than others with GBP/EUR’s fall down to a 5-week low bring one of the standout movers.

The main reason for the softening to Sterling’s value can be attributed to the Inflation rate within the UK and its knock on effects.

The rate of Inflation has risen to its highest level since September 2013 and this is significant as it’s come at a time when UK wage growth is stagnating. Inflation is growing at a higher rate than wage growth which is likely to negatively impact consumer spending within the UK, which is an important aspect of the UK economy.

This situation looks gloomy for the Pound moving forward as the Bank of England has ruled out a rate hike in the short term future, especially with a general election just around the corner.

I wouldn’t be surprised to see the GBP/AUD rate dip below 1.70 in the short term future, unless there’s a reversal in the steep rise of living costs within the UK.

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 hold onto its recent gains and remain above 1.70 versus the Australian Dollar? (Joseph Wright)

The Aussie Dollar has lost quite a lot of value against the pound recently, making converting Pounds into Aussie Dollars a much more attractive proposition.

All major currencies have lost value against the Pound in recent weeks as the clarity of the Brexit plan and the snap election called by Theresa May (UK Prime Minister) have offered the UK economy some much needed certainty which has resulted in a boost the Pounds value.

Sterling is currently trading at 2017 highs against most major currency pairs, and those planning on making a Pound to Aussie transfer may wish to consider that the Aussie Dollar has been losing value against the US Dollar as well as against Sterling, which suggests to me that the currency is coming under pressure generally speaking.

It’s for this reason I’m expecting to see the Pound to Aussie exchange rate continue to climb and consolidate above 1.70, but Sterling sellers must be aware that the currency could be vulnerable should it become public that trade negotiations are going badly.

Economic data out of the UK is also becoming increasingly more important, as the currency has been driven mostly by political unfoldings for the past year whereas investors are now keen to keep a close eye out on how the UK economy is performing during these sensitive times. If you would like to be kept updated regarding these events do feel free to get in touch.

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.

Should I sell Australian dollars and purchase sterling now? (Dayle Littlejohn)

I was only suggesting this weekend in a recent post click here to read more, that any person holding onto Australian dollars waiting to convert into sterling should seriously consider taking advantage of current exchange rates.

With Theresa May’s shock announcement that the UK public will take a trip to the polling station on June 8th, the pound has continued to make inroads against the Australian dollar. For clients that took my opinion on board, a 200,000 Australian dollar transfer into sterling would have generated them an additional £3,000.

The reason why the pound has gained momentum off the back of the announcement is the market is pricing in Theresa May will win a majority and will therefore have more power when negotiating the final Brexit deal. Couple this a potential slowing Chinese Market and Donald Trump causing volatility for commodity currencies I still believe now is the time to sell Australian dollars and buy pounds.

Economic data is thin for the remainder of the week for the Australian dollar. A release that will have a direct impact on GBPAUD exchange rates is the speech by Governor of the Bank of England Mark Carney on Thursday morning. I wouldn’t be surprised to see the Governor quizzed about the snap election and with the recent positive run, he could try and talk down the pound which could be a small spike to look out for if selling Australian dollars.

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 01494-787478 and ask to be put through to Dayle Littlejohn.

Why I should sell Australian dollars and buy pounds now (Dayle Littlejohn)

For the last 10 months Australian dollar sellers buying sterling have experienced fantastic rates of exchange however I believe it’s only a matter of time until the pound starts to claw back losses.

The Australian dollar has been under pressure for the last 7 days due to the increase in global tension because of Syria and North Korea. At times of uncertainty commodity currencies including the Australian dollar are sold off as they are a risk.

China’s Monetary policy program is reported to have stopped having a positive impact on the Chinese impact which will overtime have a negative impact on the Australian dollar. It was reported a few weeks ago, Chinese Debt now represents 250% of their GDP.

As for the pound UK Prime Minister Theresa May has triggered Article 50 which has bought some stability and certainity to the pound.

If you emigrating to the UK and are holding Australian dollars waiting to purchase sterling, I believe now is the time to trade.  The currency company I work for can achieve clients fantastic rates compared to their banks.

To get an understanding of the process, I recommend emailing me with your requirements (amounts, timescales) and I will respond with the process of using our brokerage drl@currencies.co.uk.

Data releases to look out for next week

To start the week China are set to release their latest GDP numbers. As I have stated above their is a correlation between China and Australian dollar exchange rates. If their is going to be a slow down in China GDP numbers will start to fall at some stage.

Tuesday morning the Reserve Bank of Australia release their latest minutes. This release shouldn’t spring any surprises. To finish the week Australian Bank business confidence will be release Thursday morning.

Enjoy your easter weekend

Will the Pound fall when the Brexit begins next Wednesday? (Joseph Wright)

The Pound’s value was relatively unchanged in the wake of the UK government announcing the date for the start of the Brexit.

Towards the end of last week it emerged that the 29th of March will be the day Brexit is officially triggered, as UK Prime Minister Theresa May will invoke Article 50 in what Brexit secretary, David Davis has called ‘the most important negotiation for this country in a generation’.

I think the reason the Pounds value remained mostly unchanged is because the financial markets were expecting the announcement, after May made us aware of the governments plans and timescales towards the end of last year.

Personally, I think the Brexit is mostly priced into the Pounds value and I’m actually quite optimistic regarding the Pounds value moving forward. I think the major drops in the wake of the vote have seen the Pound consolidate at its new levels and it appears to see support at the 1.60 level against the Aussie Dollar.

The rising inflation in the UK is also likely to result in an interest rate hike which would likely boost the Pounds value, and there are concerns in Australia that the housing market is overheating, particularly in cities such as Melbourne and Sydney which could impact AUD’s value.

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.