The Australian Dollar has been extremely volatile over the last few weeks with the rate spiking to near all time highs against the pound. It has also regained some of its losses against the Euro.
Events in Europe most notably the Italian election may have a knock on effect on the Aussie Dollar as the currency in times of global uncertainty can be effected due to its high risk with investors. As the uncertainty persists in Italy you will more than likely see the Aussie slightly get knocked of its perch against a host of currencies. We have already seen this against the pound with the rate moving from 1.47 to 1.4850.
Other events in Australia could also halt the Aussie strength over the coming months and if you have AUD to sell I would consider looking at your position sooner rather than later. Guy Debelle who is one of the members of the Reserve Bank of Australia has come out with comments stating that it is very possible that there may be further interest rate cuts in the future. If this was to happen then I would expect to see a movement in the rate of 2-3% after the decision not in favour of clients selling the Aussie. Debelle also went on to add that intervention could even happen to counter balance the pressures of an elevated exchange rate. This is concerning as it seems the RBA would be happy for the exchange rate to weaken to help their exports. The trick is trying to work out when this may occur. My prediction would be over the next 2-3 months. So if you are selling Aussie Dollars now may be a fantastic time to capitalise on the excellent rates that are on offer. Please do email me at [email protected] if you are looking at capitalising on the rates.
If you are looking at buying the AUD then if you can hold out a little longer you may just get slightly better rates than what is currently available. If you inform me what your requirement is then I will be happy to explain all the options that are available to you. If you are buying or selling the Australian Dollar we can help you achieve a better rate than your current broker and high street bank and the savings can be extremely significant.
Please feel free to email me at [email protected] with your requirement and contact details. I will call you to discuss the options that are available to you.
Thank you for reading.