Sterling – Australian Dollar – 1.90 may now be imminent!

GBP to AUD Steady as Markets Consider BoE and RBA Rate Cuts

The GBP /AUD exchange rate is now sat just below 1.90 which was rightly predicted earlier in the week by my colleague and fellow writer Mike here.

Daniel Wright

Inflation data from Australia and bad manufacturing data from China, coupled with U.K unemployment figures once again looking much healthier hyave all led to this further movement in the right direction for anyone looking to send money over to Australia in the near future.

I have hundreds of clients on my books who emigrated some time back and although I cannot directly advise people, many have held back from sending their funds overseas with a view that we may get the kind of increase we have seen of late.

Many are now asking me if now is the time to jump in and personally I would say partially……

The general outlook suggests that the Australian Dollar may still weaken further however I would always approach with caution as the Pound seems to have a history of dropping away just as everything appears to look rosy.

If I had my own transaction to carry out I would personally now look to secure half of the currency I need and then leave the other half until a later date. This way you know that you are not fully exposed should the market drop yet if it goes up you still have some money to take advantage of it.

If you are going to carry out a currency exchange either now or in the near future then it may be prudent to speak with me first. The company I work for has won numerous awards for our exchange rates and also our customer service. Whether you were planning to use a bank or another brokerage I am highly confident I will be able to save you money, and the slightest improvement on a rate can make a big difference.

Feel free to email me directly on djw@currencies.co.uk with a description of what you are looking to do and a contact  number and I will be more than happy to call you personally.