The Pound – Australian Dollar exchange rate has once again dipped below 1.50 and should it manage to stay below this level until the end of the week then we may see rates start to push back down to close to 30 year record lows (or highs if you have AUD to sell).
I would not expect rates to stay this low for too long however as the strong AUD will no doubt really start to hit the Australian economy and stimulus must be put into place to get things moving again. The strange thing is that some clients I speak to in Australia say that things are booming and others in different parts of Australia say things are nowhere near as good as are being made out and that if it wasn’t for the Chinese input then quite simply the Australian economy would not be too rosy.
High house prices are slowing the housing market and we still are yet to see the full effect of this, personally I feel there is still room for further interest rate cuts in Australia and in general when you see a cut in interest rates it is considered as negative for the currency concerned and a hike seen as positive as it makes that particular currency much more attractive to investors.
If you have a currency transaction to carry out involving buying or selling Australian Dollars then I can help you. I reguarly have contact from people using OzForez and HIFX and consistantly find them a better deal than they are currently getting, especially if they are only using an online trading platform. Online platforms do not get you a good rate as there is nobody actually working on the rate for you, you are just set a margin and that is that… I actually negotiate on your behalf in order to squeeze every last bit out of each transaction – Even a 0.5% saving on £20,000 into AUD is an extra £100 in youir pocket that you need not be giving away. Email me today [email protected] if you would like a live comparrison or just some general assistance with a pending currenc