We have seen a significant spike for GBP against the AUD, following Mark Carney’s statement that there would be no further Quantitative Easing (QE) in the UK at this time. This has boosted market sentiment amongst investors and we have seen GBP/AUD rates spike back towards 1.73, a move of over a cent. This has provided AUD buyers with some of the best levels of the past couple of years, so certainly an opportune time to consider your position if you do have AUD requirement on the horizon.
With a slowdown in the Australian economy and poor growth forecasts for the next few months, it is likely we will continue to find resistance on GBP/AUD around 1.70. The AUD has struggled ever since the Reserve Bank of Australia (RBA) decided it need to start cutting its base interest rate, for fear of alienating their trade partners.
Here at Australian Dollar Forecast we have a dedicated team who can help you navigate the currency markets and provide the key market analysis around any transfer. If you do have an upcoming currency requirement and would like to be kept up to date with all the latest market movements, or just wants a rate comparison with your current provider then please feel free to contact me directly at [email protected], or you can call one of the team on 0044 1494 787 478.