GBPAUD exchange rates have hit 4-year highs recently as a number of interest rates cuts and negative comments from the RBA have taken effect. Earlier this week another comment from a senior banker down under claimed there is room for fiscal intervention in order to weaken the currency to keep exports competitive.
Poor GDP earlier this week has not helped the AUD and this give further rise for the need of another rate cut. This could weaken the Aussie further going into 2014. Depending on the news from the US tomorrow this could cause further Aussie weakness if the US jobs data is weaker than expected.
With GBPAUD rates having touched 1.81 and dropping marginally down this afternoon following the UK’s Autumns Statement and some good news on US GDP this was part of the reason for the Aussie’s minor fightback this afternoon.
If you would like to take advantage of current rates and to protect yourself against adverse market movement you may wish to lock into a forward contract which allows you to eliminate the risk of the currency markets moving further against you. For a free quote or an explanation as to how to save money when buying or selling Australian Dollars then feel free to contact me directly Tom Holian [email protected]