The GBPAUD pairing continues to be a currency pair that is difficult to forecast. Due to it being impacted by breaking news about the UK, China, US and raw material prices we consistently have seen this pairing swing by 2 cents a week over the last few months. Today was the same as we saw it weaken by almost 2 cents within a few minutes following news from China stating money was going out of the region and not into Australia. This created a traders to quickly sell the AUD making it considerably cheaper to buy. These SPIKES in the market will continue and to get the best price you need to actively be watching the markets and able to move quickly. If you don’t have the time you should appoint or notify your trader here who can keep you posted with emails and phone calls of breaking news and better buying levels. If you have not registered for this please feel free to do so by emailing [email protected] with your details.
For the remainder of the week I expect rates to continue to stay buoyant and for the best AUD buying prices to be on Friday morning when the UK release its latest GDP figures. These are expected to show an improvement so push the value of the Pound upwards, 1.69 could be on the cards if everything goes well. This of cause is bad news for anyone with AUD to see currently however as mentioned before the rates never move in a straight line so there will be opportunities to time you trade and get a better rate. If you would like some assistance with your transfer please feel free to get in contact. Here we provide a pro-active service doing exactly that and you can trade in the knowledge that on top of timing the trade you also get access to award winning exchange rates saving you money compared to your current provider; either bank or broker.
Look forward to being of assistance,