The Australian dollar has had a busy fortnight moving by over 2 cents, this move relates to a potential saving of over AUD $5,800 if you bought the Dollars with £200,000 at its highest compared to the low. This again goes to show how important timing is when moving money internationally. Recently commentary from the RBA governor has added to speculation that they too will cut their Interest Rates in the near future as growth forecasts were cut by 0.5% for this year only this week. I personally think GBPAUD is going to continue to climb in the long term with 1.70 on the horizon in the near future and a push towards 1.75 before year end. However with economic updates from the UK and AUD, plus data from the US and China having an impact this pairing will remain volatile. This in turn means there will be opportunities for buyers and sellers if you time your trade well. Register your interest for live updates by emailing the author – [email protected]
Yesterday their Unemployment figures dropped weakening the Dollar and this morning’s RBA statement added to speculation of further falls in the near future.