If you have a requirement to buy or sell the AUD against GBP or EUR then your eyes will be firmly on events in the UK and Europe with key interest rate decisions happening this week as there is no real economic data to note of out down under.
Unfortunately for those of you that are looking at repatriating funds to the UK or Europe all the signs are the same as last year where we expect to see a continual slow gradual devaluation for the AUD. Having said this though there are always peaks and troughs in the currency markets and it is vital that you act should any slight spike in your favour occur. Recently some of the data out from the UK has not been as positive as expected and we have seen the GBP/AUD rate fall from 1.86 back down to 1.83. This is an example of the kind of spike that you should be acting on.
We are expecting no real movement in interest rate policy this month and it could be a bit of a non event. If we see more positive data out from the UK and Europe this will surely have an impact on the rates against the Euro and could help sterling recover the losses this year and head back towards 1.86.
If you do need to buy or sell the AUD you will see two benefits in working with us here: the better exchange rate and the proactive service trying to help you time the transfer.
I have been assisting so many clients repatriate their Aussie Dollars back to sterling of late as many are really concerned at how much the AUD is weakening by. The reverse has happened where trades have gone through the roof for clients capitalising on the spike and buying the Aussie too. If you feel that you wish to discuss your specific requirement with myself then feel free to email me Ben Amrany at [email protected]. If I know what your exact requirement is with the volume and time scale that you have we can discuss the options that are available to you to help you judge when you should convert your funds.
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at [email protected]