The Australian Dollar has been performing very well of late against a host of the majors. There has been a big increase in the value of the AUD and has significantly strengthened against the pound of late. The days of 1.90 seems a long time ago now. The news that China’s growth forecasts for 2014 have been cut did not do enough to stop the halt of the Aussie with GBP/AUD falling to as low as 1.7829.
This morning however the UK posted some positive industrial output figures showing a rise much bigger than originally anticipated. The manufacturing production figures also came out extremely strong and since has assisted GBP/AUD to rise back to 1.7926.
The biggest mover for the Aussie Dollar this week will be in the form of their unemployment figures for March. Recently a survey which showed job adverts have increased for a third straight month and if the unemployment rate benefits from this it could cause another spike in the Aussie Dollars favour. Good if selling AUD bad if buying AUD.
This rise this morning goes to show how quickly the change in the rates can occur. If you are looking at buying the AUD then why not challenge us to beat your banks rate either here in the UK or in Australia. I help assist thousands of clients repatriate funds between the two countries and time and time again make our clients significant savings over the banks. If you feel that you need to make a currency exchange then please do feel free to contact myself Ben Amrany at [email protected] and I can explain the options that are available to you in trying to achieve the best exchange rate available.
If you are in the situation needing to move money internationally and looking for the best price – please feel free to contact the author – Ben Amrany – via the telephone number at the top of the page or via email at [email protected]