We have seen the Australian Dollar remain weak lately as investors fears over further interest rate cuts remain. What will happen next? I think the Aussie will weaken further and may even fall to 1.8 against the sterling in the coming weeks and months particularly if the pound continues to find favour and the RBA cut interest rates further.
Next month we are expecting lots more activity on the market which could see the rates get worse. I feel that if you have something further to do involving the Aussie taking stock of everything now is a very wise move as holding on much longer could leave you disappointed.
The next big decision for me will be the RBA Minutes where we will get some news as to the outcome we can expect on the next interest rate cut. If you are selling Australian dollars to buy GBP or euro moving sooner may be the wisest course of action to avoid disappointment. If you are weighing up a transfer involving the Australian dollar moving sooner or at the very least protecting your rate seems to me the wisest course of action.
For a free, no obligation discussion of your position please feel free to contact me directly on [email protected] or call 01494 787 478. I look forward to hearing from you.