The GBP-AUD rates have remained fairly rangebound at the start of this week with rates testing the 1.57 (0.6370) mark this afternoon. As we have seen of late these currencies are being highly effected by investors attitude to risk
and seeing further problems for Europe could well lead to these becoming even more jittery. I personally can see a spike occurring against these currencies for the Pound if the Greek election goes in favour of the Anti-Austerity party.
Many clients that have contacted me over the course of this year have been looking for one of two things… Rates to get over and above 1.60 as they did for a small period of time not too long ago or rates top go back below 1.50 for those looking to sell Australian Dollars and to bring funds back to the U.K. Personally I feel we will be much more likely to see rates get up to 1.60 plus again instead of dropping back away,. however do be warned it tends to be the greedier amound us that usually miss out.
A prudent approach is to look at putting a stop loss or limit order in place.. Or indeed both – These contract options are completely free and protect you from adverse market movements – Ideal if you do fit into either of the categories above.
I work for one of the top foreign exchange brokerages in the U.K and have assisted thousands of clients when transfering to and from Australia getting much better rates than banks or indeed their current broker of choice. If you would like my assistance then feel free to contact me directly on [email protected] or by filling in the form on the right hand side of this page and I will be happy to assist you.