The Aussie look set to remain on the back foot and if selling Australian dollars for GBP moving sooner may be best. The current expectation is for further interest rate cuts which would weaken these currencies. Rates for selling are still historically very good and should not be too easily dismissed!
The RBA have time and time again stated it is not in their interest to have a strong Australian dollar and I would not be surprised to see further cuts as a result. It is worth remembering the Aussie was historically well above 2 and despite much more sterling weakness in the future, the trend for the Australian dollar is further losses.
The best way to maximise any exchange is to make sure that you utilise the service of a currency broker and make some plans regarding your exchange rate. Set realistic expectations and do not use your bank! All too often we hear horror stories of people who wait until the last minute to make their exchange, end up rushing through a deal and using their bank losing thousands of pounds in the process. Using our service is extremely quick and simple and an save you thousands!
The long term trend looks set to be Aussie weakness but nothing is set in stone. As a specialist currency broker I can help pick and choose the right times to maximise your currency transaction. For a free, no obligation discussion of your exchange, please speak to me Jonathan on [email protected]
I look forward to hearing from you and assisting with the best deal!