As most followers of this blog will be aware, and certainly anyone with an interest in GBP/AUD, the pound has suffered at the hands of the Australian Dollar since the start of the year. Should you have an upcoming position to buy AUD I would certainly suggest you take stock and consider your options, likewise anyone selling Aussie dollars you could struggle to see a more favourable time to exchange. Indeed levels against sterling are close to the record highs of 1.4549 in February 2012 – should you be selling a word of caution, by May 2012 rates were back to 1.60, a reversal of 9% in 3 months.
I am not suggesting the market will rebound this dramataically but I for one feel the Reserve Bank of Australia will continue with its stance on interest rates and I would expect interest rate cuts throughout the year. I feel short term (1-2 months) those buying AUD with the pound will continue to be disappointed but I can see a correction towards 1.52/53 on the AUD in Q2.
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