GBPAUD should push through 1.70 very soon, AUD sellers holding on should take note…..

AUD GBP Trades Above 0.5300 Ahead of Consumer Confidence

Just lately the Aussie is enjoying a period of calm but a move higher towards and over 1.70 looks highly likely. The main trigger will probably be an interest rate cut by the RBA in the coming months but before then we could see an interesting spike as early as Thursday. Making wholly accurate predictions is of course impossible but we can assist with information to help you make an informed decision and also provide a highly competitive commercial exchange rate.

This Thursday the UK releases data on GDP (Gross Domestic Product) which is set to be positive for the pound because it will show growth for the UK. This may end up being only a small spike as there are still many challenges ahead for the UK in the future. Nevertheless it may lead to better rates  for AUD buyers so it is well worth being aware if you are buying AUD. Conversely AUD sellers may wish to take stock too as longer term, interest rate cuts look set to weaken the AUD further.

For more information on the markets or the services we provide please don’t hesitate to speak to me directly. My name is Jonathan Watson and as well as writing blogs online offering information to help clients save money, I can offer all the tools to limit your exposure on the markets. I work as a foreign exchange broker assisting private and corporate clients manage their risk and exposure to the currency markets. Even if your transfer is just a once off, please feel free to speak with me directly for free information at no cost or obligation.

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