Sterling AUD Exchange Rates Rise Again (Tom Holian)

AUD GBP Struggles at the 0.5350 Price Level

Following last week’s change of leadership as Rudd replaced Gillard as leader of the Labor Party  which saw the AUD$ strengthen by 1% we have now seen GBPAUD exchange rates move back to where they were a week ago. With rates now in the mid 1.66 level the chances are that the previous trend will emerge again as rates could begun to challenge 1.70 as recently predicted.

UK Services Output picked up in April as figures released from the Office of National Statistics showed the UK output rose by 0.2% compared to the previous month and 2% compared to April 2012. With the UK GDP figures recently revised to show that the double dip didn’t actually happen the UK seems to be in better shape than previously thought.

Indeed, with a slowdown in China and a gradual strengthening in Western Europe and the US this could see Australian Dollar exchange rates move the wrong way for Aussie sellers. If you have a currency transfer to make and want to compare exchange rates against your bank to see how much you could save then get in touch with me directly Tom Holian [email protected]