Send Money to Australia – Best Exchange Rates

AUDGBP Pressured After RBA Rate Meeting

Sterling Australian Dollar has been testing 1.70 for the last trading sessions, and even after this mornings positive Retail Sales data (up 0.5% to 1.1%) we see Sterling still in the 1.69s.

I believe that 1.70 is a ‘level of resistance’ short term for GBP-AUD, and should you have a trasfer to conduct within the next month or so 1.70 is a good target level. As the Reserve Bank of Australia recently cut its interest rate to 2.5% and indicated no further cuts, I believe the Australian Government will look to stabilise the currency to prevent excessive further falls in the value of the Dollar.

Should you have a requirement to buy Australian Dollars, please feel free to drop me a line to discuss your various different purchase options. Should you have a specific level to buy at, you can use a LIMIT ORDER to automatically purchase the currency, even if the market only hits your target for a second!

You also have a STOP LOSS should you wish to set an absolute minimum level to purchase your currency at as a safety net.

Should you have a transaction to do and wish to have a quick chat, please find my contact details below…

Andrew Bromley

01494 787 478