Tag Archives: save money

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! **

Will the Tories agree a deal with the DUP and the impact on GBPAUD exchange rates (Tom Holian)

We are now a year on from the Brexit vote when the British public voted in favour of leaving the European Union and as yet we are still a long long way off from a clear vision as to what things will look like in the future.

Theresa May has been in Brussels this week and has suggested that the UK would look to guarantee rights of EU nationals living in the UK of which there are over 3 million. This is clearly a step in the right direction but the EU has not confirmed any reciprocal arrangement.

At the moment the UK political landscape is extremely uncertain as the Tories have not set an agreement between themselves and the DUP and with the vote of the recent Queen’s Speech due to take place next week if a deal is not reach then things could go wrong very quickly for the Tories.

This is not good news for the Pound as we are still in a hung parliament and it is now over a fortnight since the election result. I personally think a deal is coming and this is likely to happen next week. In my opinion I think this will help the Pound recover some of its losses against the Australian Dollar.

However, I think the gains will be short lived as the Brexit talks are likely to be long and protracted. Therefore, if you’re looking at buying Australian Dollars keep a close eye on what is happening politically and get ready to move quickly if a deal is reached.

If you have a currency transfer to make and would like to save money on exchange rates compared to using your own bank then contact me directly for a free quote and I look forward to hearing from you. I have worked for one of the UK’s leading currency brokers since 2003 and I’m confident of being able to offer you better rates when buying currency as well as helping you with various contract types.

Tom Holian teh@currencies.co.uk

Pound to Aussie Dollar range-bound, but where to next? (Joseph Wright)

The Pound to Aussie Dollar exchange rate has been trading between 1.66 and 1.68 for a few days now, as the pair appear to have consolidated below 1.70 in the wake of the disappointing election outcome for Sterling bulls.

As of yet there is no official agreement between the Conservatives and the Democratic Unionist Party (DUP) although speculation is mounting as to the amount the Conservatives will have to pay for the coalition, with some speculating amounts of up to £2bn.

Moving forward I’m expecting any news of the coalition to have a potential impact on the Pound to Aussie Dollar buying rate, which is where keeping in touch with us can really help as we’re able to act whenever there’s a big short term move.

Brexit negotiations are now also underway, which is another issue for the government to deal with along with the ongoing Grenfell Tower tragedy and the recent terrorist issues.

On the other hand the Aussie Dollar has been under pressure in recent weeks as the Chinese economy appears to be slowing, which is a negative for the value of AUD as the Australian and Chinese economies are key trading partners.

With both currencies coming pressure for different reasons, it could be that the weaker of the two that results in further price movement for the GBP/AUD pair.

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.

 

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.

The impact of Brexit on the Pound vs the Australian Dollar (Tom Holian)

The Pound has endured a difficult last 2 weeks with the GBPAUD exchange rate falling below 1.70 after comfortably trading above that level for a while.

The Pound has been blighted by what has been happening politically and with the Tories failing to form a majority government in the recent elections the uncertainty is causing issues for Sterling.

Indeed, we have still yet to form a majority government and when this happened last time it took 20 days before the Lib Dems and Tories formed the coalition.

Next week the focus will turn to what is happening with the Brexit issue which as we all know caused such a huge problem for the Pound against all major currencies including vs the Australian Dollar this time last year.

As yet the UK has not confirmed whether it will try and opt for a hard or a soft Brexit and as we are still not settled politically there is a lot of uncertainty in the market which is why I think we may see further losses for the Pound vs the Australian Dollar in the near future.

On Tuesday the Reserve Bank of Australia will announce its latest set of minutes from its recent meeting and this is likely to have a small impact on GBPAUD rates but overall I think the Pound will be negatively affected by the Brexit negotiations. Therefore, if you need to send money to Australia it may be worth taking advantage of the current rates.

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

If you would like further information or a free quote when buying or selling currency and would like to save money then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Bank of England vote causes short term spike for the Pound vs the Australian Dollar (Tom Holian)

The Bank of England have caused a big stir in the foreign exchange markets during today’s session as we have seen a 5-3 split in favour of keeping interest rates on hold.

For the last few months the split has been 7-1 but owing to rapidly rising inflation this is the reason used for the change in the voting pattern.

This vote brings with it a suggestion that interest rates in the UK may be rising sooner than expected and this has helped the Pound to make gains vs the Australian Dollar.

Inflation is now at 2.9% which is close to the highest level in 4 years and with the target set by the Bank of England for 2% this is becoming a problem for the British economy.

With UK Average Earnings falling and inflation rising this is causing the cost of living to go up which is not good news so an interest rate hike could be coming sooner.

I still think this positive jump for the Pound vs the Australian Dollar is short term as the UK has still yet to form a majority government and as yet we do not know when this may happen. When a hung parliament occurred last time it could a total of 20 days before it was sorted.

The other problem that Sterling faces is that of the Brexit negotiations which are officially due to start on Monday and the likelihood at least in the short term is that the talks will be problematic. Therefore, if you’re thinking about buying Australian Dollars it may be worth organising in the near future.

Having worked in the foreign exchange markets since 2003 for one of the UK’s leading currency brokers I am confident not only of being able to offer you better rates of exchange when buying or selling Australian Dollars but also help you with various contract types.

If you would like further information or for a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

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.

Will the pound continue to fall against the Australian dollar (Dayle Littlejohn)

In the run up to the UK general election GBPAUD exchange rates remained buoyant around the mid 1.70s which was a surprise to the traders here as the pound was falling across the board against all of the major currencies. I put it down to the Australian dollar weakening due to iron prices and the slow down in China.

Once the general election exit polls were released the pound started to tumble against the Australian dollar and rates continued to fall once it was announced that Theresa May had not won an outright majority. GBPAUD exchange rates have dropped 8 cents since the election result which means if clients are converting 400,000 Australian dollars back to sterling they will receive an additional £10,800.

Looking further ahead I find it difficult to see how the pound will gain any momentum until a government has been formed. At present UK Prime Minister Theresa May is trying to form a minority government with the DUP. Many have questioned the alliance as some of the DUP policies and views seem controversial and not supported by the Conservatives.

Personally I believe a government will be formed in the upcoming days which could provide some stability for the pound. Thereafter Theresa May will turn her attention to Brexit negoations and with the election result a softer Brexit looks more likely which actually improve the pounds value as remaining a part of the single market could actually occur.

For Australian dollars sellers buying sterling, it appears China are going to continue to slow and economists are predicting iron ore prices will follow which will have a negative impact on the Australian dollar. The spike we have seen over the last 5 days may be worth taking advantage of.

If you are trading GBPAUD in the upcoming weeks, months or years and want to save money 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! **

 

Will the Tories win and what could happen to Pound vs Australian Dollar exchange rates? (Tom Holian)

We are now just a few hours away from the result of the latest general election and at the time of writing it looks as though the Tories will clinch victory.

At the moment the markets are relatively quiet in anticipation as to what may happen overnight. It is not yet clear what time we should expect the vote but we are likely to see volatility for GBPAUD exchange rates overnight.

My suspicion is that we will see a Tory victory but if the voting is close or if we even have a hung parliament this could cause big problems for the Pound overnight.

However, a Tory victory is likely to provide the markets with some certainty for the next few years and this typically results in strength for the currency involved and in this case Sterling.

As we have seen during the course of 2016 with both the Brexit vote as well as the Trump victory the market can be full of surprises and the opinion polls can be dramatically wrong causing big movements on the foreign exchange markets.

One issue longer term is that even if we do see the Tories win with a majority the boost for the Pound may be short lived as it means that the Brexit negotiations will be allowed to begin and this is likely to be a very challenging period for both British political will as well as the British economy.

Having worked in the foreign exchange industry since 2003 I am confident not only of being able to offer you bank beating exchange rates when buying or selling Australian Dollars but also help you with the timing of your transfer.

If you have a currency transfer and would like further information or a free quote then contact me directly and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

Pound to Aussie Dollar hits its lowest level since April as the election approaches, will the trend continue? (Joseph Wright)

The Aussie Dollar bucked the trend today and actually gained value vs the Pound during today’s trading session.

As the election polls have swung back in favour of a Conservative majority the Pound has received a boost against most currencies, as the tightening in the polls over the past few weeks has put pressure upon the Pound as is often the case during times of political uncertainty.

The Aussie Dollar managed to buck the trend as in the early hours of this morning as both quarter-on-quarter as well as year-on-year economic growth figures (GDP) came out better than expected. This data release now means that Australia has recorded 103 successive quarters of growth which is a new global record, making the Aussie Dollar strength understandable.

Despite these figures from down under I am expecting to see the Pound climb further across the board of major currency pairs (including AUD) should the Conservative party win a majority when the election result is announced this Friday.

Another potential downside to the Aussie Dollar is the likelihood of another interest rate hike in the US which would limit demand for investors to hold funds in AUD. AUD has benefited from having such a high interest rate for a nation within the developed world, and should other nations, especially those considered less high risk such as the US, begin offering a similar or higher rate we could see a sell-off in the Aussies value due to selling pressures.

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.