This mornings trading has followed yesterdays trend with the pound having gained nearly 1 cents against the AUD and nearly 1% against the NZD. Risk sentiment seems to be the drive in today’s and yesterday’s, both currencies seeing a big sell off following funding concerns in China – GBP/AUD has gone back through 1.68 and GBP/NZD 1.935
Tomorrow we have UK GDP data that is forecast to show a slight improvement from the final revision of Q2 – the figures are expected to come in at 0.8% up from 0.7% and could lend further support to the pound to finish off the trading week.
Current market conditions are proving difficult to forecast, particularly when looking at pound against the USD and higher risk currencies such as the AUD and NZD. Should you have an upcoming bank to bank exchange to arrange and you would like to discuss my opinions and get a full overview of the currency service we provide, including the contract types we can offer both private and corporate clients, then please contact the office on 01494 787478 or email Mike at [email protected]