As many analysts expected the Reserve Bank of Australia cut the base rate by 0.25% overnight bringing levels to 3.25%. Following this announcement the Australian dollar has fallen in value against the Euro and Pound by over 1 cent. Buying levels for the Aussie are now at a 4 month high for GBP/AUD, having gained over 6% since the lows of August and showing a very similar trend for EUR/AUD with he dollar having lost 8% since August. These are substantial gains and buyers of the Australian dollar may do well to take stock and look at taking advantage.
Here at currencies.co.uk we aim to help clients time their exchange. Through years of market experience and an understanding of what drives the market we can help you assess trading conditions to try and help you make an informed decision as when best to buy. As shown above the market can swing dramatically in a relatively short period of time, by being in regular contact with your broker we can keep you up to date with peaks and troughs to help maximise your exchange. To discuss the service in more detail or to take advantage of the recent losses for the AUD then please contact Mike on [email protected] or call 01494 787478