Tag Archives: sterling

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.

Sterling to Aussie Dollar rate plunges after BoE rate hike, what happened? (Joseph Wright)

This afternoon at lunchtime the Bank of England hiked interest rates by the expected 0.25 basis points, although in the immediate aftermath the Pound fell dramatically against every major currency pair.

At the time of writing the Pound to Aussie rate has fallen by 2% with the GBPAUD rate now sitting at 1.6917 and the AUDGBP rate sitting at 0.5910.

This afternoons move has come as a surprise to the markets, as usually when the base rate increases the underlying currency climbs. The opposite has happened today though as it appears that prior to the move by the Bank of England the hike was priced into the market, and the commentary afterwards was a bit more bearish than the Sterling bulls had hoped for.

It’s looking like there won’t be a particularly aggressive approach from the Bank of England regarding monetary policy moving forward, which is why we’ve seen the Pound lose so much value in such a short space of time.

There won’t be any further major economic announcements out of the UK tomorrow that are likely to move markets to such a great extent, although Australian Retail Sales data is coming out in the early hours of this morning which may impact the rates.

If you wish to be kept updated regarding any other short-term price movements between the pair, do feel free to register your interest with me. Moves such as today’s can result in large differences in a currency transfer outcome so being aware of these moves can be highly beneficial.

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.

 

 

Sterling – Australian Dollar rate flies through 1.70 – Australian Dollar weakness and Sterling strength (Daniel Wright)

For a few weeks now I have had many clients waiting to be able to achieve the 1.70 mark for their exchange of Pounds into Australian Dollars and finally I have been able to give some of them the rate they have been waiting for.

Overnight on Tuesday, or Wednesday morning for those in Australia we had news that Australian inflation levels had dropped off to 1.8% from a predicted 2%, leading to the Australian Dollar weakening a little against most major currencies.

The reason a lower inflation figure usually leads to a currency dropping off is due to the fact that lower inflation figures decreases the chance of an interest rate hike. An interest rate hike is generally seen as positive for the currency concerned so if the chance of that happening decreases then usually so does the value of the currency involved.

For those that are tracking GBP/AUD exchange rates, you received a second piece of good news on Wednesday morning (or evening for those in Australia) as we had U.K growth figures released and they too, were a little better than expected year on year.

We have seen GBP/AUD exchange rates creep up because of these two factors and they are now almost at the best exchange rate they have been at this year, as an example a £150,000 exchange into AUD now compared to a few months back will net you almost AUD 15,000 more!!

If you are in the position where you may wish to purchase or sell Australian Dollars in the coming days, weeks of months then this can be seen as a fantastic opportunity for you, with brexit still hanging over the head of the Pound there is always that chance it may drop back again at any time.

If you would like to check  that your current provider or bank  is getting you the most for your money then why not take advantage of a currency audit which I will be more than happy to do for you. Email me the price you have been quoted, the volume involved and what time you got this and I will get back to you and let you know if you are getting a good deal or if there is a great deal of money to be saved.

We are very transparent here, if your deal is great I will be honest with you and let you know just that, if it isn’t then I will let you know how much more you can get and how I can help you.

Should you wish to take advantage of this then you are welcome to email me (Daniel Wright) on djw@currencies.co.uk and I will be more than happy to get in touch personally.

Australian dollar predictions against sterling

Over the last two weeks the Australian dollar has been making inroads against the pound and GBPAUD exchange rates have plummeted 7 cents. To put this into monetary terms for any clients that are purchasing Australian dollars with pounds a 400,000 Australian dollar purchase will now cost just under an additional £10,000. However on the other hand for clients converting Australian dollars into pounds this is certainly something to smile about.

The latest minutes from the Reserve Bank of Australia gave no clear indication that the RBA will be  raising interest rates anytime soon however the minutes were seen as bullish as it is clear that the next move will be to follow the trend of other central banks and raise the base rate.

UK inflation data disappointed last week which has relieved some of the pressure the Bank of England were receiving. The Bank of England set an inflation goal of 2% and at present even with the drop, inflation sits at 2.6%. Many economists were predicting if inflation rose above 3% we would get clear direction from the Governor of the Bank of England and an interest rate hike early next year was likely. However with inflation now falling the chances of a rate hike have diminished.

Since the UK public decided to vote out of the EU, the pound has lost approximately 15% against all of the major currencies. Brexit negotiations I believe will continue to weigh down on the pound for the foreseeable future as I don’t believe a deal will be struck anytime soon in regards to the divorce settlement or the rights of EU citizens living in the UK.

Therefore for Australian dollar buyers purchasing currency on the back of a positive move would be my strategy as I do not foresee any substantial gains being made over the upcoming months. Australian dollar sellers may wish to take advantage of the 7 cent spike in their favour or should continue to monitor the market and try to covert in the 1.50s.

However Australian dollar sellers should be cautious as the National Bank of Australia believe the Australian dollar is overvalued which I actually agree with. At the moment currency investment continues to land on Australian shores due to the high interest rates.

The main data releases to look out for this week are UK GDP numbers Wednesday morning which are set to show a decline which could lead to further sterling weakness and the Federal Reserve interest rate decision Wednesday evening. It is unlikely the Fed will raise interest rates and I expect a neutral statement by Janet Yellen shortly after. This could lead to a further sell off of US dollars and the Australian dollar could benefit.

For people that are converting pounds and Australian dollars for the first time, it is essential that you get the very best exchange rates. If you have used a brokerage for many years or have been referred a brokerage I strongly recommend you compare rates to make sure you get the best price possible and therefore save money. This simple exercise takes two minutes and in the past I have saved clients hundreds and in some instances thousands of pounds.

My direct email is drl@currencies.co.uk Dayle Littlejohn. Alternatively call me Monday morning on 0044 1494 787 478 and ask the reception team to be put through to Dayle Littlejohn.

Could the Pound fall even further against the Australian Dollar? (Tom Holian)

Sterling has continued to struggle vs the Australian Dollar this week after the comments made by the Reserve Bank of Australia which suggested that an interest rate hike may be coming sooner than some may expect.

Growth figures in China which is the world’s second largest economy and the largest trading partner with Australia have also been very good this week which has in turn led to Australian Dollar strength vs the Pound sending exchange rates below 1.64 for the first time in many weeks.

We have the release of Australian Unemployment data due out overnight and in my opinion any further good news down under could send the Pound vs Australian Dollar rates down even further.

My next expectation for rates is towards 1.60 rather than 1.70 so if you’re thinking about selling Australian Dollars soon then keep a close eye out for what happens to the GBPAUD rate tomorrow.

Tomorrow morning also brings with it UK Retail Sales which owing to the uncertainty caused by Brexit could see a lower than expected figure and if this happens I expect further Australian Dollar strength vs the Pound.

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 (Tom Holian) on teh@currencies.co.uk and I will endeavour to get back to you as soon as I can.

 

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.

Markets await news from the U.K elections – This will impact AUD/GBP exchange rates (Daniel Wright)

As we await news on just how the U.K election will pan out, Sterling has remained fairly flat against the Australian Dollar throughout trading today. It had looked like Sterling would be pushing up and above the 1.75 (0.5714) mark in the past week or so but what we have seen is a slight shift in momentum and the Labour party clawing back seats in the polls.

This has caused uncertainty for the Pound which has led to the Australian Dollar making back ground against it and coming down to test the 1.70 (0.5882) level.

It does appear that if you trust the bookies odds (which were totally wrong for the referendum) we will be seeing a conservative majority and that will more than likely lead to Sterling strength, but we must also bear in mind that this will also increase the likelihood of a harder brexit so the markets could actually see this the other way and push the Pound back down.

All in all we have a very interesting 24 hours ahead for anyone looking to buy Australian Dollars with Sterling or to send Australian Dollars back into Pounds, as we could face a lot of volatility and some fantastic trading opportunities in the hours ahead.

if you are in the position where you may need to make an exchange either in the imminent future or the coming weeks and months then it makes sense to have an experienced and proactive currency broker on your side.

I have been helping clients make large exchanges to and from Australia for nearly ten years now and make sure that not only do they get the very best exchange rate but they are also kept well aware of market movements in their favour or against them.

If you feel I would be of assistance to you then feel free to contact me (Daniel Wright) personally on djw@currencies.co.uk and I will be more than happy to get in touch and help you put together a plan of action for your exchange.

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! **

Will the pound to Australian dollar rate rise or fall on the UK election?

Most reports suggest the pound is likely to rise if Theresa May wins a strong majority in the UK election on June 8th. Potentially this could see GBPAUD busting through the 1.80 level but there are of course never any guarantees with the currency markets! I am of the impression that expectations for sterling have actually been set too high and I wouldn’t be surprised to see the pound coming under pressure. I do actually feel the 1.70 level could be in focus and that after a few tricky weeks for AUD sellers the trend will now actually favour selling AUD for sterling, although of course we are unlikely to see a return to quite the same rates as we had earlier in the year.

The polls currently show Labour winning many more seats than previously expected which would see the Tory majority increase but not perhaps by as much as many believed some weeks ago. The general impression is of course a Tory and Theresa May win but, with the market pricing in a larger Tory win than expected the risk to me is to the downside, ie sterling could fall.

If you have a transfer to consider in the future then making some plans around this historic event is clear wise. We are here to help with an exchange rate I am positive will save you money over other options but also offer support and information for any transfer you might be planning. Understanding how the banks operate and the processes involved to transfer funds can save you lots of time and hassle.

My name is Jonathan Watson and I have worked as a specialist currency broker for close to ten years. If you need to move money overseas I am very confident a conversation with me will help provide some insight and could well save you thousands through a better rate and information on when to execute any transaction.

For more information at no cost or obligation please speak to me directly by emailing jmw@currencies.co.uk briefly outlining your position and preferably providing a contact number to discuss your position through thoroughly.

Thank you for reading and I look forward to hearing form you.

Factors impacting GBPAUD exchange rates (Dayle Littlejohn)

In recent months the Australian dollar has been losing ground against sterling for a few reasons. Firstly Iron ore prices, Australia’s largest export an a commodity that Australia heavily rely on has been falling in value. Last week Iron ore stockpiles at Chinese ports rose 1.7% to a record 134.25 million tons as of Friday, according to weekly data from Shanghai Steelhome E-Commerce Co. With reports suggestions China are having a slow down these stock piles continue to rise which in turn would have a negative impact on iron ore prices. Secondly the UK Prime Minister called for a snap election which also provided strength for the pound as a Conservative majority is likely which in turn would give the PM more power when negotiating Brexit.

However recent poor UK economic data has stopped the pound for making any further gains against the Australian dollar. The Bank of England have announced inflation is outpacing wage growth which is real problem for the UK public, however the Bank of England are not in the position to raise interest rates which would combat the inflation pressures.

Looking ahead I wouldn’t be surprised to see the Australian dollar continue to devalue as the FED are likely to raise interest rates in the upcoming months which would lead to a sell off of Australian dollars to buy US dollars and the also the problem with Iron ore is not going away. As for the UK as soon as the General Election is over Brexit negations will be in full swing.

The Bank of America Merrill Lynch Global Research have exclaimed Brexit negotiations could cause major swings for sterling exchange rates.  They told their clients they believe sterling’s good run is coming to an end. Personally I think it is impossible to predict how Brexit negotiations will unravel therefore gambling on this could go either way.

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 0044 1494-787478 and ask to be put through to Dayle Littlejohn.