Sterling hits year highs against the AUD!

AUDGBP Bounces as Australia Deals with Floods

Sterling continued its strong recent run against the AUD hitting a new year high at 1.5605. I feel this run may well continue however AUD buyers should be wary of the the UK GDP figures due for release next Wednesday. The figures will officially confirm whether the UK is in recession or not and the result appears to be very much on a knife edge. Some analysts are suggesting negative growth could be seen and the UK would then be back in recession for the end of Q1 2012. I personally think we may just scrape through with a positive figure, but I do think it will be close. For anyone with a short term transfer to arrange it certainly could be one to avoid.

Should you wish to secure your dollars at the best levels in nearly 5 months then please email Mike at [email protected] – this may include the use of a forward contract that allows you to secure funds for a guaranteed delivery date even though you may not have full availability of the funds. This contract is proving very popular for both buyers and sellers in the current climate.