Sterling – Australian Dollar flat so far this week – China still a concern for the strength of the Australian Dollar (Daniel Wright)

Daniel Wright

Sterling – Australian Dollar exchange rates have remained fairly flat this week and in truth have been reasonably range bound for a short period of time now.

When exchange rates are like this it is almost like they are just waiting for the next big bit of news to nudge them along and we have a few smaller pieces of economic data out for both economies this week so I would not be too surprised for the rates to stay within the 1.84-1.86 range until the turn of the month.

Next month we will start to see the release of economic data for the U.K in February and that for me may well give those looking to sell Australian Dollars their last opportunity to sell at these kind of rates following the horrific bout of flooding we saw in many towns and villages throughout February which must have weighed on the economy.

Lots of homes and businesses were flooded and we virtually saw complete areas come to a standstill, we even saw railway tracks completely washed away by the sea cutting off entire areas from rail access.

Although this may weaken Sterling a little in the coming weeks throughout the course of the year I personally would not be surprised to see exchange rates for the Pound get better against the Australian Dollar as the possibility of an interest rate raise increases and China starts to feel the force of such rapid growth levels that surely are not sustainable.

Should we start to see China slowing or even the bubble burst for China then this may significantly weaken the AUD and could push us close to or over the 2 level which I know many of my clients that have emigrated have been waiting for over the past few years.

I deal with currency transfers involving buying ort selling Australian Dollars and can get better rates of exchange than banks and companies such as Oz Forex and HIFX just to mention a few.

If you are currently sending money overseas or bringing money back and you want to compare our service with your current one, or you are due to have a currency requirement and you want not only a great exchange rate but me on your side as your eyes and ears on the market then feel free to email me directly.

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