Sterling exchange rates have struggled today against the Australian Dollar falling 0.5% throughout the course of the day. Currently this pair has remained range bound between 1.51 and 1.53 and proving very difficult to forecast. I still believe this year the Reserve Bank of Australia will continue with its monetary easing and this is likely to put pressure on the Aussie in the months to come, I also feel the economy in Australia will begin to slow with falling demand from China, pressure on Australian exports because of the strong dollar and the slowing mining sector. I feel anyone selling Australian dollars should seriously consider their options whilst rates are so strong. At the lowest point this year the pound had fallen nearly 4.5% against the Aussie, we have seen levels re-trace a fraction but Aussie sellers should remember you are only 4 cents from a near 25 year high – surely a good opportunity?
With the current market conditions being so volatile it is very important to get yourself in a position to take advantage should market levels spike in your favour. With rates moving in excess of 1% on a daily basis timing your exchange can make a significant difference to the cost of your transaction. As a specialist currency broker my job is to keep you informed of the current market trends and to help you maximise your exchange. Should you wish to discuss the service we provide and to discuss the market and different contract types available then I would be happy to speak with you. I am confident I can secure you a more favourable price than your current provider so please get in touch either by phone on 01494 787478 or email me direct (Mike) at [email protected]