After a couple of weeks of almost daily rises for GBPAUD exchange rates we have seen a fall back from the recent highs to a trading range between 1.63-1.65. US Retail Sales came in better than expected which helped inspire global confidence again and see investors look towards riskier currencies including the Australian Dollar. Personally, I feel this is a short term move for the AUD and would expect to see further rises for Sterling next week depending on the news from both the UK and the Eurozone tomorrow morning.
More importantly for GBPAUD exchange rates is the prediction made by the World Bank which has cut China’s growth forecast for 2013 from 8.4% to 7.7%. The recent signs of a slowdown in China has been one of the catalysts for recent Australian Dollar weakness and if things continue expect further gains for Sterling.
If you have a currency requirement and want to get in touch for a live quote feel free to contact me directly Tom Holian [email protected] With ten years experience in the industry I am confident that I can save you money when transferring currency compared to using your bank or currency broker.