6 month high to sell the AUD for the GBP

Australian Dollar Forecast Set for Bleak End to 2020

Are you going to need to transfer AUD back in to GBP in the future? Current AUD for GBP rates are at a 6 month high. It is the best time in 6 months to sell AUD for GBP so if you would like to look at anything here please let me know.

Should I buy now or hold on is a questions I am continuously asked! The bottom line is that no one can tell you exactly what to do because no one can say with any certainty exactly what will happen in the future. It is often those who become complacent with rates who stand to lose the most as they wrongly assume a certain outcome.

This is the case for many Aussie buyers in the last few months. they have been banking on trading at a level in a range of 1.80 to 1.90+ and now find themselves in a rather difficult position. Do they buy now at these slightly lower levels or do they hold on?

The current forecast still favours sterling I believe due to the improvements in the UK economic outlook. There is scope for some strengthening of the AUD however, tonight’s Chinese data will be key.

For more information on the current forecast please contact me Jonathan on jmw@currencies.co.uk