GBP has continued to perform well against the AUD with rates finding a lot of protection around the 1.70 mark. Whilst we have moved away from the high of a couple of weeks ago, the current levels still offer fantastic buying opportunities on a currency that at one staged had threatened to move below 1.40. Whilst yesterday’s poor UK Retail Sales figures halted the Pound’s momentum somewhat, I still feel the slowdown in the Australian economy and China’s demand for their raw materials mean the AUD could struggle against GBP over the coming weeks.
The currency markets can be a difficult place to navigate but here at Australian Dollar Forecast we have over 13 years experience in helping to achieve our clients the best exchange rates on offer, whilst also providing them with the key market analysis required so that they can time their trade to perfection and maximise the market value. If you would like to be kept up to date with all the latest market movements, or just want to compare our exchange rates with your current provider then please don’t hesitate to contact me directly at [email protected], or alternatively you can call one of the team on 0044 1494 787 478.