Today’s GBP-AUD trading peaked at 1.6675, hitting a 3 year high.
It is a trend that has driven most AUD buyers to trade at favourable rates, having budgeted their purchases at 1.50!
We are also seeing AUD sellers selling their positions, even if their Dollars are still tied up. Please find my details below if you are in a similar situation.
Tomorrow morning (01:00 GMT) sees the Westpac consumer confidence report, detailing the sentiment of individuals towards their families finances. There is also the Consumer Inflation Expectation, an inflation prediction. Both data sets tend to add volatility to GBP AUD so worth watching out for!
Feel free to get in contact if you have Australian Dollars to sell that you are unsure timing correctly. It is also worth dropping me a line should you not have the Dollars available yet, as there are options available to you. Depending on your AUD situation, you may be able to fix your rate of exchange and avoid any further unfavourable market movements – a distinct possibility!!
Drop me a line on the trading floor to have a chat!