The GBPAUD rate has ticked up slightly presenting a good opportunity to buy the currency. This partly due to weaker AUD data of late and also the worrying data from China and other asian nations like Japan. The Australian economy relies heavily on strength in it’s regional partners’ economies. Any sign of worry or uncertainty in these economies will cause the Aussie to weaken and this is what we have witnessed lately.
The expected decline in the currency is likely to manifest in the coming months as the economic data continues to disappoint. This week’s Unemployment data for Australia released overnight tonight really has the propensity to move the market. Last month it was these figures that triggered a bout of AUD weakness after the RBA (Reserve Bank of Australia) changed their policy stance to neutral.
If you need to sell Australian dollars moving sooner is wisest, should you be buying then your patience may be rewarded depending on the performance of the currency you are selling. For more information on your particular forecast and to discuss the process of moving funds internationally please feel free to speak to me directly on [email protected]