GBPAUD has rebounded after touching the lows of 1.50 over a week ago. Australia has called an election for September which has potentially created some uncertainty. I expect the Aussie will weaken in the short term and that we could see some better buying levels, however these are unlikely to be sustained.
Tomorrow we have the HSBC Manufacturing PMI from China which is usually one of the big market movers on AUD as the Chinese economy is one of the big drivers of Aussie strength.
The current trend lately has been Aussie strength and there does appear to have been a little uncertainty creeping back into the market, particularly with the US economy reporting -0.1% growth this week. I expect the Aussie could weaken by a cent or so tomorrow unless the PMI data is much better than expected. If you are buying Aussies this could be a good time to buy since generally speaking the UK and the pound is suffering at the moment.
If you have an AUD currency transfer to consider why not get in touch to be kept up to speed with the latest news and events that will move your rate. We always aim to get our clients much better rates than other sources and would be pleased to speak with you to ensure you don’s suffer at the hands of bad exchange rates or complacency. Please feel free to contact me Jonathan directly on 00 44 1494 787 478 or email me [email protected] for more information.
I look forward to hearing from you, thank you.