Current rates for selling AUD for GBP are the best in 2014 and should not be easily dismissed in the hope of much better rates down the line. This is because the general forecast is GBP strength as the UK are looking to raise interest next year whereas Australia are still possibly going to cut interest rates. Whilst more recently they have changed their rate outlook to neutral indicating no immediate moves, the expectation is for more rate cuts down under in the future.
If you need to sell Australian dollars an awareness of the current forecast is key to help you to get the best deals. If you have any transactions to consider why not make us aware? We are currency specialists who can not only assist in better prices and exchange rates than the banks and other sources (like currency brokers) but also provide expertise in the physical transfer process. Understanding exactly how the mechanics of international money transfers work will help you to properly manage any exchange rate volatility.
Whilst the current rate for selling AUD for GBP is not the best in recent it is a big improvement on the rates available this year. And more importantly if you look at the longer term historical view when rates were close to 2.5 AUD per 1 GBP, we are clearly at much improved levels. As the UK comes to the end of its low interest rates period the pound should return to more normal levels against the AUD. Picking the right moment is as always key so to discuss further please contact me directly on [email protected]