Tag Archives: sterling

What to expect this week for GBPAUD exchange rates (Dayle Littlejohn)

With limited Australian economic data last week and UK  data exceeding expectation you would have thought the pound would have continued its good run against the Australian dollar. However this was not the case as GBPAUD started the week at 1.7175 and is now fluctuating in the 1.66s.

The reason for the decline is the looming Supreme Court ruling. The Supreme Court judges are back to work on the 11th January from their Christmas festivities and they should announce whether UK Prime Minister needs the approval of Parliament before triggering Article 50.

This announcement links directly to either a ‘Hard’ or ‘Soft’ Brexit. If Mrs May has to seek Parliament approval then a softer Brexit becomes more likely and therefore the pound could begin to start making gains against the Australian dollar. Where as if she overturns the High Court decision and she can invoke Article 50 by March then further losses for the pound vs the Australian dollar are on the horizon.

Personally I wouldn’t be surprised to see the judges stick together and therefore a softer Brexit becomes more likely. However 2016 was the year of surprises, therefore getting in touch early and being in the position ready to convert currency is the way forward.

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! **

 

What will be the big news on GBPAUD exchange rates?

GBPAUD exchange rates have improved as the pound finds favour on the back of an improved outlook for sterling exchange rates and the UK economy. Most analysts now expect the pound to be stronger in the coming weeks and months as investors look to invest their money in a much more stable and potentially profitable currency and country. Most suggestions indicate the UK will no longer be engaging in a hard Brexit which would see the UK sever all ties with the EU including access to the single market. This has helped the pound rise but is it guaranteed?

If you have any currency requirements to buy Australian dollars then you might find it could become more expensive in the future if the Supreme Court decision throws out the government’s case that they will be able to enact Article 50 under Royal Prerogative powers. If the government is allowed to act without parliamentary approval the pound could end up much lower. If the case is upheld then the pound could rise higher but I do feel much of the good news is already priced in.

GBPAUD rates have fallen dramatically but just lately we have had an excellent improvement of almost ten cents presenting some of the best levels to buy the Australian currency in almost 2 months. If you are looking to make any GBPAUD currency transactions in the coming weeks and months then please speak to me Jonathan about the latest news and trends to be kept up to date. For more information please email me Jonathan on jmw@currencies.co.uk

 

Sterling vs the Australian Dollar could hit 1.70 tonight if the US Federal Reserve increase interest rates (Tom Holian)

Rates to buy Australian Dollars have been flirting either side of 1.70 recently in anticipation of the US Federal Reserve raising interest rates at tonight’s meeting.

Typically when the US raises interest rates this results in US Dollar strength and weakens riskier commodity based currencies as global investors plough into the US Dollar.

With the chances of an interest rate hike approximately 95% it appears as though this is a foregone conclusion but as the Fed have been rather cautious during 2016 as far as raising interest rates I think when they finally confirm the action tonight then this could see GBPAUD rates break through 1.70.

The Australian economy has been wobbling recently and showing signs of a slowdown with GDP hitting its lowest level since 2011 last week. Clearly the issues surrounding a ‘soft’ or a ‘hard’ Brexit have been weighing heavily on Sterling vs Australian Dollar exchange rates and I think tonight’s decision could be the catalyst for Sterling strength.

Australian unemployment data is due out overnight and with GDP having fallen recently I would not be surprised to see this data coming out worse than the estimate of 5.6%.

Tomorrow afternoon the Bank of England will announce their latest interest rate decision and although I don’t expect any change in policy any positive comments by governor Mark Carney may see Sterling go in an upwards direction.

Clients looking to sell Australian Dollars to buy Sterling in the future may wish to consider buying a forward contract which allows you to fix an exchange rate for a future date.

Having worked in the foreign exchange industry since 2003 I am confident of being able to offer you bank beating exchange rates as well as helping you with the timing of your transfer of currency.

If you have a currency transfer to make and would like to save money when buying or selling Australian Dollars then feel free to contact me directly for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

 

 

Will the Australian Dollar continue to lose value as we enter the new year? (Joseph Wright)

The Australian Dollar dropped off early yesterday morning after some worse than expected GDP figures were released.

Whilst analysts were expecting to see a quarterly growth figure of 0.3% the figure actually came out at -0.5% which demonstrates that the Aussie economy has been contracting in recent months.

The value of the Australian Dollar has been weakening over the past month or so with the Pound gaining over 10 cents in just the past month.

I’m expecting to see the Aussie dollar continue to decline should economic data continue to disappoint, but whilst I’m expecting further Aussie weakness I do think those planning a currency conversion involving the Pound should be aware that the currency could be fragile at current levels, after gaining so much value in such a short period of time.

Due to the volatility between the GBP and AUD currency pair it can be a wise decision to plan around important news releases. We offer limit orders which can allow our clients to achieve their target prices by setting up automated orders. If you wish to discuss this system in further detail do feel free to get in touch.

There are some important inflation figures out early tomorrow morning which could move markets if the figure released deviates from its expectation of 2.2%. The figure comes out at 8.30am so feel free to get in touch if you wish to plan around this.

If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be 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.

Sterling falls against the Australian Dollar owing to Supreme Court (Tom Holian)

Sterling vs the Australian Dollar has experienced a difficult last few days as the Supreme Court continues to weigh heavily on Sterling exchange rates against all major currencies including the Australian Dollar.

Both UK industrial and manufacturing data showed a decline this month compared to the expectation and with the NIESR GDP figures not showing any improvement on the estimate this has caused problems for the Pound.

Both Lord Pannick and Dominic Chambers argued that the Brexit negotiations will only be allowed to begin once parliamentary approval has been granted. They have argued that if the government does go ahead this will be ‘a violation of the doctrine of parliamentary sovereignty.’

It is clear that the GBPAUD exchange rates are being heavily influenced by what is happening politically in the UK at the moment as down under Australia announced its first fall in GDP since 2011.

The RBA recently kept interest rates on hold at 1.5% which is the lowest it has ever been and the central bank will wait to see what will happen to the economy since its rate cuts back in May and August.

With all the uncertainty surrounding the foreign exchange market caused by the Supreme Court we are likely to see this volatility for GBPAUD rates continue for the foreseeable future.

Having worked in the currency markets since 2003 I am confident that not only can I offer you better exchange rates than by using your bank but also help you with the timing of your transfer of funds. 

If you have a currency requirement and would like to save money when buying currency then contact me directly for a free quote and I look forward to hearing from you. Tom Holian teh@currencies.co.uk

 

 

Will GBP/AUD breach 1.70 soon? Sterling back in fashion? (Daniel Wright)

We deal with a lot of clients moving money to and from Australia and many that have had to move money into Australian Dollars have had a tough time of things since the referendum in the U.K.

Recently we have seen the pound start to stage a fight back following the victory for Donald Trump and the riskier currencies starting to take a slight turn for the worse.

On top of this, economic data in the U.K has not exactly been anywhere near as bad as the main economists had thought that we may see and the chance of article 50 and the start of official ‘brexit’ negotiations may well be being pushed back.

We do not have a great deal of economic data out for the rest of the week for Australian Dollar followers, however, with Thanksgiving day on Thursday trading levels will be thinner on the ground so this can lead to volatile swings in the market.

Going back to the title of this post I personally feel that we may see GBP/AUD move back above the 1.70 mark in the near term as the tide appears to be turning in favour of Sterling.

If you are in the position that you may need to buy or sell Australian Dollars in the coming days, weeks or months then it is well worth you getting in contact with me directly, I have been getting clients much better rates than well known Australian based online platforms and can save you money over the banks and other brokers. We typically help clients with exchanges over 20,000 Australian Dollars and try and help both with the timing of the transfer along with getting you market leading rates when you do decide to book your currency.

Feel free to contact me (Daniel Wright) if you are in this position and require my assistance. You can email me directly on djw@currencies.co.uk and i will be more than happy to get in touch personally.

UK interest rate decision to cause huge volatility for GBPAUD exchange rates (Tom Holian)

The Bank of England are due to meet tomorrow at midday to announce their latest interest rate decision. Since the vote to leave the European Union back in June Sterling has fallen by as much as 40 cents vs the Australian Dollar and shortly after the Brexit vote the Bank of England chose to cut interest rates to 0.25%.

Bank of England governor Mark Carney has been publicly criticized by some politicians as to his gloom and doom mongering since June but he has been very strong willed and spoken out in defence of his decision.

Indeed, Carney has extended his tenure for another year taking him up till 2019 which briefly provided the Pound with some support against the Australian Dollar.

However, tomorrow we could see an interest rate cut and if we do or even hints that one could be coming this could cause Sterling to fall again vs the Australian Dollar.

The Pound has really struggled since the Brexit vote and more recently the official announcement made by Prime Minister Theresa May that Article 50 will be triggered in March 2017.

Australian Import & Export data is due overnight and I think with the recent rise in value of Australian commodities this could see further Australian Dollar strength overnight if the economic data is better than expected.

Having worked in the currency markets since 2003 I am confident of being able to offer you better exchange rates when buying or selling Australian Dollar compared to using your bank.

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

Tom Holian teh@currencies.co.uk

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Sterling vs Australian Dollar at lowest level since May 2013 owing to Article 50 Pressures (Tom Holian)

As predicted in my previous articles Sterling has continued to fall and has now dropped to below 1.60 for the first time since May 2013 as confidence in the Pound has fallen.

The Pound has dropped against all major currencies recently following the announcement by UK Prime Minister Theresa May that Article 50 will be triggered in March 2017. The uncertainty caused by the vote to leave the European Union has seen Sterling falling by over 40 cents since the Brexit vote and we could see Sterling continue to fall against the Australian Dollar.

French president Francois Hollande spoke out recently saying that European leaders should be firm in their negotiations with the UK and should make things as difficult as possible in order to discourage other nations to think about leaving.

Indeed, Sterling vs the US Dollar is now trading at just above 1.20 on the Interbank level which is seriously concerning for the British economy. With most of our goods coming from overseas effectively the cost has gone up by 20% since the Brexit vote and it is only a matter of time before this is passed on to the British consumer which will have an impact on inflation levels.

The Bank of England governor Mark Carney yesterday said he wasn’t too concerned about foreign exchange and has confirmed that the central bank’s main issue is that of inflation.

Therefore, with their next meeting due to take place in November I think we could see another interest rate cut which is likely to be detrimental to the value of Sterling.

We could see GBPAUD rates go lower as the RBA don’t appear to be looking at cutting rates anytime soon.

If you need to buy Australian Dollars before the end of the year it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

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

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for further information or for a free quote and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

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RBA keeps interest rates on hold which sees GBPAUD exchange rates hit 3 year lows (Tom Holian)

The rate to buy Australian Dollars with Sterling has hit its lowest level for 3 years as the Reserve Bank of Australia has decided to keep interest rates on hold last night. There was a small chance that the RBA would cut interest rates but they chose not to which caused the Australian Dollar to strengthen vs the Pound.

Today we have seen the Australian Dollar drop to its lowest levels since summer 2013 which is good news if you’re looking to convert Australian Dollars into Sterling.

The Pound has also really struggled against the Australian Dollar since the news that Prime Minister Theresa May will look to trigger Article 50 by March 2017.  The uncertainty of whether we’ll have a ‘hard’ or a ‘soft’ Brexit is also causing concern for the Pound and confidence has fallen and we are seeing the Pound fall against all major currencies.

We have hit the lowest level to convert GBP into USD in 31 years and now a 3 year low to convert GBP into AUD.

During September it was also confirmed that Australia has celebrated a total of 25 years of uninterrupted growth as the economy managed to avoid recession due to their heavy reliance on China.

If you are thinking of moving to Australia in the future and are concerned about the market continuing to fall then it may be worth considering a forward contract which allows you to fix an exchange rate for a future date.

Having worked in the industry since 2003 I am confident of not only offering you competitive exchange rates but to also help with the timings of your currency exchange. If you need to buy or sell Australian Dollars and would like further information or a free quote then contact me directly via email and I look forward to hearing from you.

Tom Holian teh@currencies.co.uk

Australian Dollar continues to remain strong as RBA throws up no surprises (Daniel Wright)

The RBA didn’t throw up any big surprises to the markets in trading today as interest rates were left on hold and there were less signs than usual of any future interest rate reductions… Former Governor Glenn Stevens did seem to like leaving a few hints out there for future policy just to keep tongues wagging between investors.

The Australian Dollar has surged against the Pound in recent months following the referendum, the announcement by Theresa May on Sunday that the U.K would be progressing with Article 50 by the end of March and just the general way that the Pound has fallen out of fashion  over the past few months.

With this in mind my personal view is that this is a fantastic time to be exchanging Australian Dollars into Sterling and the key in these scenarios is not to get too greedy as there are plenty of issues out there that may turn the tide back.

All you need to do is look at the issues in China, the potential of an interest rate hike in the U.S and the potential that once his feet are under the table that new Governor Philip Lowe may have larger plans than he has hinted at and we could well see this trend turn around fairly quickly.

I personally have assisted hundreds of clients bring Australian Dollars back into Sterling over the past couple of months and would be more than happy to help you too. Not only can we achieve much better rates of exchange than the banks but it is rare we cannot significantly better other well known brokerages too so it is well worth getting in touch with me if you find this website useful.

You can email me (Daniel Wright) creator of this site 5 years ago on djw@currencies.co.uk with a description of your requirements and I will be more than happy to contact you personally to discuss the options available to you.