Tag Archives: Tom Holian

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.

Will the Pound hit 1.80 against the Australian Dollar? (Tom Holian)

The Pound has maintained its strength against the Australian Dollar during the course of the week even though the the political situation in the UK remains uncertain concerning the Brexit talks.

The DUP are rejecting a ‘regulatory alignment’ between Northern Ireland and Ireland which is also being resisted against by a number of other members in government. The DUP are unlikely to allow a border in the middle of the sea as this could cause huge problems politically for Ireland.

Although the Brexit is clearly causing a lot of uncertainty at the moment there appear to be real problems for the economy down under in Australia.

Australian GDP figures released showed a big drop from 0.9% in quarter two to 0.6% in the previous quarter. This is likely to keep interest rates on hold as the RBA clearly will not want to cause a downturn for the economy.

Indeed, consumer spending has also seen a big slowdown in Australia which has slowed at is lowest pace since 2008 which is another reason for GBPAUD exchange rates moving in an upwards direction.

I think the Brexit is the biggest issue to concern anyone with a requirement to either buy or sell Australian Dollars but with things slowing down under this is the reason why I think there is a possibility we’ll see GBPAUD exchange rates move towards 1.80.

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.

Will the Pound continue to rise against the Australian Dollar? (Tom Holian)

The Pound has continued its excellent run of late vs the Australian Dollar ending the week trading in the 1.77 territory on the Interbank level.

The next target that many are hoping for is for GBPAUD exchange rates to continue to rise and hit 1.80.

We are certainly heading in that direction and with many of the commodity based currencies we have seen a lot of weakening in recent weeks.

On Tuesday, Australia announces its latest Retail Sales figures as well as Current Account Balance data.

Both have seen a slowdown recently and this is in part another reason for the weakening of the Australian Dollar.

Also out on Tuesday is the latest Reserve Bank of Australia’s interest rate decision. The likelihood is that we’ll see the interest rate kept on hold for again for another month.

The accompanying statement if it suggests that rates will be kept on hold for a long period of time could be the catalyst to send GBAUD rates in an upwards direction and this could possibly tip things again towards 1.80 on the Interbank level.

Part of the recent gains for Sterling is the increasing rumour that a divorce bill is prepared of approximately EUR50bn in order to get the next set of talks heading in the right direction. With the next EU summit due in a fortnight if the talks go well again this could help the Pound make further improvements.

However, one clear sticking point is the Irish border issue and as yet this has not been decided. Clearly both countries do not want a physical divide so if this subject does not get resolved this could cause real problems for Sterling.

If you need to make a currency transfer over the next few days or weeks and would like further information or a free quote when buying or selling currency then feel free to get in touch.

Having worked in the foreign exchange industry since 2003 I am confident of not only being able to offer you bank beating exchange rates but also help you with the timing

To find out more contact me directly Tom Holian teh@currencies.co.uk

 

Pound hits best rate to buy Australian Dollars in 2017 (Tom Holian)

The Pound has now hit its best rate to buy Australian Dollars all year as it looks as though we could be seeing some positive movement behind the scenes with the ongoing Brexit negotiations.

The Pound has finally broken through the resistance barrier of 1.75 and has touched 1.78 earlier this morning but has started to slip back as we see a little bit of short term profit taking.

The figures that have been suggested are approx €50bn as part of the divorce bill although this figure will probably be more like €100bn as the UK may have to pay for its liabilities that it has committed to previously.

The good news for anyone holding Sterling is that the talks appear to be going in the right direction at the moment and this has really helped to improve the outlook for Sterling exchange rates particularly against the commodity based currencies including the Australian Dollar.

Tomorrow morning brings with it the latest RBA Commodity Index which is an early indicator of export price changes. We have seen this fall in recent months so any further slowdown could see GBPAUD exchange rates go in an upwards direction towards the end of the week.

The rate to buy Australian Dollars will clearly be impacted by what is happening with the Brexit and if the discussions continue to go in the right direction we could see the market continue to improve in Sterling’s favour.

With the next EU summit due to take place in mid-December this could be the critical event that will impact GBPAUD exchange rates so expect to see a lot of volatility.

With GBPAUD exchange rates already rather volatile in the last few weeks it may be worth removing the risk of what may happen to rates by buying a forward contract which allows you to fix an exchange rate for a future date for a small deposit.

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.

 

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.

Will the Pound continue to rise against the Australian Dollar? (Tom Holian)

The Pound has continued its recent positive run against the Australian Dollar and overnight it has been suggested that some senior ministers in the UK are putting pressure on the government to increase its offer to the EU to leave.

The next meeting is due to be held in December and if this happens this could take the discussions forward which is clearly a positive for the UK.

Downing Street itself has dismissed the rumours that it is looking to double the ‘divorce bill’ payment but I think we could see an offer from the UK coming fairly soon.

The next Brexit summit is due to take place on 14th-15th December and the main topic for discussion will be the Irish border which has still not yet been sorted.

The RBA released its minutes overnight and this has caused GBPAUD exchange rates to move in an upwards direction as the central bank sees ‘considerable uncertainty’ around wage pressures and therefore any interest rate change is very unlikely which has caused the Australian Dollar to weaken against Sterling.

With tomorrow’s UK Autumn Statement due for release I think we could some volatility coming in the morning so make sure you’re prepared for any market movement.

This could be rather difficult for Chancellor Philip Hammond after he was forced to scrap his previous plan of attempting to raise the level of National Insurance.

The likelihood is that he’ll aim the budget towards younger voters as this was the demographic that the Tories appear to have lost at this year’s election and this could include a big push on housing.

I think we could see some uncertainty during the announcement tomorrow but once we get past this issue I think the Pound could gain even further.

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.

Will the Pound improve against the Australian Dollar next week? (Tom Holian)

As predicted in my previous articles the Pound has shaken off the problems against the Australian Dollar following last week’s interest rate decision which saw the GBPAUD exchange rate move in a downwards direction.

The UK economy has proved once again that it is resilient even though politically we are facing the challenge of the ongoing Brexit uncertainty.

GBPAUD exchange rates are once again moving in the right direction breaking through 1.72 on a couple of occasions already this week.

The Brexit talks appear to be moving in the right direction with Theresa May and Michel Barnier both suggesting that behind the scenes progress is being made.

The real issue surrounding Brexit is what the divorce bill will cost and when it will be paid which is one of the sticking points of the discussions.

We have a very eventful week ahead with the release of a number of different economic data due over the next few days.

UK Inflation is due out on Tuesday and this has been a big factor in the recent decision by the Bank of England to raise interest rates earlier this month. Therefore, this could also cause a lot of volatility for GBPAUD exchange rates.

Also, next week is the release of UK unemployment data and with the jobs data performing very well during 2017 I think we could see GBPAUD rates improve by the middle of next week which could provide a good opportunity to look at buying Australian Dollars with Pounds.

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 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.

Will the Pound fight back vs the Australian Dollar during November? (Tom Holian)

Thursday saw one of the most eagerly anticipated days of the year so far with the latest Bank of England interest rate decision but for anyone hoping to see GBPAUD exchange rates move in an upwards direction was sorely disappointed.

Although the Bank of England as predicted did raise interest rates for the first time in over ten years the accompanying statement caused the market to plummet to below 1.70.

The interest rate hike was arguably the most dovish in history with the central bank suggesting that we may only see two more rate hikes by the end of 2020, which is hardly good news for anyone looking to invest in Sterling for a positive yield.

However, today we saw GBPAUD exchange rates stabilise above 1.70 after such heavy losses which shows there is still Australian Dollar weakness at the moment against the Pound.

I personally think although we may see Sterling remain under some pressure against the Australian Dollar I expect to see the Pound make gains vs the Australian Dollar in the weeks ahead.

Therefore, if you’re looking at buying or selling Australian Dollars but want peace of mind in the next few weeks it may be worth looking at buying a forward contract which allows you to fix an exchange rate for a future date.

If you have a 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 I can.

Will the Bank of England hike rates on Thursday and the impact on the Pound vs the Australian Dollar? (Tom Holian)

The Pound vs the Australian Dollar has continued to remain very strong having broken past the resistance level of 1.70 and targeting 1.72 during today’s trading session creating some excellent opportunities for anyone looking to buy Australian Dollars with Pounds.

With the uncertainty surrounding what is happening in Catalonia the Pound has seen the benefit of a Euro sell off in favour of Sterling and this in turn has boosted GBPAUD exchange rates.

With the Bank of England also due to meet on Thursday the current polls have got an 84% chance of a rate hike occurring on Thursday and this is another reason for Sterling strength vs the Australian Dollar.

Thursday could be the biggest day of the week in terms of what happens between the Pound and the Australian Dollar owing to the economic announcements due out.

We begin Thursday with the release of both Australian Import and Export data as well as Trade Balance figures and as this comes out in the early morning it may be worth considering a Limit Order which allows you to buy at a pre-agreed exchange rate even outside of usual UK working hours.

At midday on Thursday the Bank of England will announce their latest interest rate decision and the chances are very high that we’ll see the first rate hike on Thursday so make sure you’re prepared for a busy day if you’re buying or selling Australian Dollars.

If you have a 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 I can.