We Have Breached 1.57!
GBP – AUD breached the 1.57 this morning, just after the stroke of midnight! This is further warning for Aussie Dollar sellers that have not yet secured an exchange. There are several options available to avoid potential losses on adverse currency fluctuations, please find my details below should you have a requirement / wish to discuss your options.
As per my previous posts on Australian Dollar Forecast, it is my opinion that the Australian Dollar will keep weakening in to the 1.60s as Australia trys to stimulate its import export businesses. The commodity based currencies of the southern hemisphere are weakening at a very fast pace, for example South African Rand today moved to a 4 year low against Sterling.
Tomorrow sees HIA (Homes Industry Association) New Home Sales, Westpac Lending Index and Construction Work Done Data. Even with Australia positive results, I would expect levels of 1.56 for the majority of tomorrow.
If you are buying Australian Dollars, one thing that is worth considering is a Limit Order. This Limit Order will buy your currency at a specific level, enabling you to trade 24 hours a day, 365 days a year. This would have enabled you to buy at 1.57 this morning.
If you have a currency requirement be it buying or selling, please feel free to get in touch [email protected] . You can also contact me on 01494 787 478.