The Australian dollar is once again strengthening on the back of better Chinese data and the confidence offered up by the new government. I expect it will continue further in the coming weeks although I do not think this will mark the start of significantly better rates for AUD sellers. Nevertheless if you are selling AUD to buy either GBP or Euros the rates may well improve a little further for you, this could be the perfect opportunity if you are looking for slightly better rates.
The Australian dollar looks unlikely to make major gains against sterling due to the much better news keeping sterling well supported against pretty much everything. The prospect of further interest rate cuts in Australia later in the year will probably keep the Aussie on the back foot and prevent any major gains like we saw earlier this year when GBPAUD rates hit the 1.45’s.
When should I make my currency exchange? When looking to make an exchange it is wise to consider all of your options. That includes the contract options available to you plus the different directions the market could take. As specialist currency brokers we can help with information on when may be a good time to enter the market and make sure you get the best possible rates too. For more information please contact me personally on [email protected]