Next week has the potential to be extremely volatile for currencies such as the Australian Dollar as attitude to risk will be quite frankly all over the place.
When investors attitude to risk is negative then you tend to see currencies like the AUD lose value, making them much cheaper to buy and meaning you get less for your AUD should you be looking to sell. I would imagine that this weekend should the anti austerity party just about wind up up top fin the Greek elections attitude to risk will drop and so may the value of the Australian Dollar. Of course we just don’t know what will come from this weekend and there is still a chance that in a currency sense this may even turn out to be a non event… Quite frankly the most important part is what happens in the days and weeks after the election results as it will plot the path for the future of the Euro and could lead to some very jittery markets.
Personally I feel we will see rates creep above 1..60 again (or 0.6250) in the coming weeks – So if you have a pending currency transaction to carry out then you there is the small possiblity you may get more by holding out. If you have Australian Dollars to sell then it may be prudent to take advantage of what are still absolutely fantastic exchange rates historically. I can assit you with any pending exchanges either involving buying or selling Australian Dollars both in terms of getting you a much better rate of exchange than your bank or your current broker and by offering you a very high level of personal customer service to make sure your transaction is smooth and efficient.
You can email me directly today [email protected] quoting ADF as the subject header and I shall be more than happy to assist you.