Sterling slowly gaining against the Australian Dollar

AUD GBP Lower After Dismal Employment Report

The Pound has had a great run against the Australian Dollar of late, gaining almost 5 cents in the past few weeks.

At present, with buying levels now over 1.50 it does become quite a temptation to buy Australian Dollars if you have been waiting to make a purchase since the start of the year.

From what I hear from friends over in Australia things are not as great as have been made out and with China seemingly slowing down ever so slightly there may be a little more room for improvement in GBP/AUD rates as long as the U.K can avoid moving backwards again with their economic recovery.

Be very wary though if you do have a pending property transaction to carry out and the current level is within budget it may be tempting toat least book half of your currency just in case the AUD does have another charge of strength which we can never rule out.

Today is key for the Pound with production figures out at 09:30am and the Bank of England interest rate decision due at 12:00pm. Should the Bank of England not have changed their plans surrounding Quantitative Easing then the Pound could creep up a little further.

If you are in the position where you need to buy or sell Australian Dollars for any major currency then I can help you both in terms of a great rate of exchange and a fantastic level of service. You can contact me on [email protected] please let me know a brief description of your requirements and a contact number and I shall be more than happy to help you.