As I watch a tense finish to the cricket with England doing everything they can to try and lose again I thought I would update you all with a key moment for GBP-AUD exchange rates this week.
The Pound has had a really good run of form against the Australian Dollar over the past few months and with both the Government and RBA both quite content to see the Australian Dollar weaken away there is still the chance we may see this trend continue.
On Tuesday morning we have GDP (Gross Domestic Product) figures released for the U.K from the last quarter of 2013. GDP is a measure of how much an economy grew or shrank over a period of time and can have quite an impact on the value of a currency.
I would not be surprised to see this figure come out fairly positive on Tuesday, if you look at the majority of economic data we saw towards the end of the year it looked very good so you would imagine GDP should follow suit.
Should we see a good solid release then the Pound may well spike further again. We have been saying here on Australian Dollar Forecast that we feel the AUD is in for a bashing and this could well kick it whilst it is down, as far as against Sterling is concerned anyway!
If you are looking to exchange Pounds into Australian Dollars then this could lead to a great buying opportunity for you and if you are looking to sell Australian Dollars then it may be prudent to secure at least some of your funds to avoid the potential of losing anymore than you have of late.
I can assist with any bank to bank transfers whether you reside in the U.K or overseas. The company I work for has won numerous awards for exchange rates and customer service, we can achieve better rates than Ozforex – I know a lot of readers that contact me do already use them. Great company and never heard a bad word said about them but if you can get more for your money through sending me an email then it is certainly worth getting in touch.
You can email me directly on firstname.lastname@example.org please leave a brief description of what you are looking to do and a contact number and I will be more than happy to get in touch personally.
Please do not mention the cricket in your email, we have just lost as I write this!! 🙁