The Aussie is touching an excellent level against most currencies notably the pound. Poor sterling data has dragged the rate sub 1.50 which is presenting an excellent opportunity for anyone who needs to sell Aussies. If you are selling 100k AUD today to buy sterling you are £3000 better than at the start of the year. Should you be considering a currency exchange involving the Australian dollar and would like more information please email me on [email protected]
Tomorrow is the Retail Sales figures for the UK which due to the poor weather for January (not even an inch of snow can bring the UK to a standstill!) would I expect be potentially GBP negative. Anyone who is buying Australian Dollars may wish to hold on a little longer for improvements although don’t get too excited. This is not a market to be gambling in and anything above 1.50 should probably be pounced on quickly.
The underlying reasons for GBP weakness and AUD strength remain and there appears to be no immediate change on the horizon. Saying that exchange rates are moving all the time so if you are watching the rate and would like to be alerted to a particular level why not make a free enquiry or quote request with me? Just email [email protected] outlining your situation and I can provide a forecast and information on how to get the best rate and the most from the market.
I look forward to hearing from you