Sterling exchange rates posted small gains against the Australian dollar as the Euro experienced heavy losses bringing levels close to 1.24. As my colleagues have discussed in previous posts, the uncertainty surrounding Cyprus has created a great deal of market volatility and uncertainty heading into a busy trading week. With the Australian dollar still classified as a riskier currency this may well cause some big swings for the Aussie as investors will often shy away from the dollar in times of uncertainty. Tomorrows minutes from the Reserve Bank of Australia may also lead to some short term volatility and anyone with an interest in the Australian dollar should watch out for this release for any insight as to the banks stance on monetary policy, any hint towards future interest rate cuts and we could see the dollar weaken, likewise if the bank have not discussed monetary loosening then watch for dollar strength.
As a specialist currency broker we have a number of tools available to take advantage of spikes as they can often be short lived. Our aim is do maximise our clients positions and to keep them up do date with market trends. Should you have an upcoming money exchange to arrange and you would like to hear more about the currency service we provide then I would be happy to discuss the service in full. We can offer you contracts ranging from standard spot and forwards to stop/loss and limit orders, we also have a rate alert service ensuring we will contact you when a particular rate becomes available.
Having worked in the industry for a number of years I know what a difference a fraction on the exchange can make. Whether your are emigrating, importing a luxury car, settling an invoice or diversifying your portfolio then our currency service may well be of use to you. To find out more please contact the office on 01494 787478 or email Mike at [email protected] for more information.