The current outlook on GBPAUD is not that positive for AUD sellers as Glenn Stevens said further AUD weakness is a strong likelihood. It is not in the interests of the Australian economy to have a strong Aussie as it is bad for their exports and also bad for tourism and other sources of income. Historically rates were well above 2 so to have them at 1.60-1.17 is a huge improvement for AUD sellers.
Don’t miss out on what are still excellent selling rates
The best time make a currency exchange is a relative thing. 1.65 buying AUD is great when you have been used to getting 1.50. However if you have your heart set on 1.80 or even the lofty highs of 2 from many years ago, you are clearly going to be disappointed at current levels!
In order to decide on the best time to enter the market it is wise to carefully consider all of you options. This is where as specialist currency brokers we can offer assistance with the timing of your exchange as well as the very best rates on the market.
There are a number of factors to beware of when considering an AUD exchange including carry trading, interest rate differentials plus fundamental and technical analysis. If you would like to maximise your currency exchange and learn more about what is driving your rates please contact me Jonathan on [email protected]