I wanted to take this opportunity to thank all our readers for their comments and inquiries during 2013 and I think 2014 will see even more exciting movements for GBPAUD exchange rates. With a currency movement of around 30% from the high to low this year this has been once of the most volatile periods for GBPAUD in history.
With 8 interest rates cuts in the last 2 years and with further cuts expected in the first quarter of 2014 we could see further Australian Dollar weakness during early 2014. With the RBA already hinting that if interest rate cuts do not work to weaken the Aussie they could intervene n the markets to artificially weaken the currency.
The problem for Australia with such a strong exchange rate is that it harms Australian exports and has seen the cost of living sky rocket during the last 2 years. The western part of the country primarily the mining industry has boomed during the last few years but this has caused a huge difference compared to the rest of the country which is now struggling.
With Chinese demand having slowed this year this has caused less production in the mining industry and less demand all round for the Aussie Dollar resulting in the weakness seen during 2013.
If you have a currency requirement during early 2014 and want to save money on exchange rates compared to using the banks to buy currency then feel free to contact me for a free quote Tom Holian [email protected]