The Australian Dollar has been hit hard today with major losses against all of the major currencies. This has occurred after the RBA Governor Glenn Stevens said that intervention in currency markets by the central bank is not out of the question.
On the back of the comments the pound is starting to strengthen back close to the three year highs and has today spiked at 1.7450. I would expect the trend to continue up to the weekend and then maybe see the trend reverse. Last time GBP/AUD rose to 1.7550 it quickly reversed and over the next couple of weeks the rate was back down at 1.67. The losses by not capitalizing on this spike could be thousands should a similar trend happen.
I feel that if you have been holding out to achieve better buying AUD rates now is the time to act. With the rate back up around that 3 year high this does represent an attractive level. If you are looking at buying the Aussie Dollar please feel free to contact myself Ben Amrany at [email protected]. I can explain teh options available to you and how we can help you make a saving on your exchange.