The Australian Dollar has gained by over 3% against the Pound over the last month. This can be put down to a number of reasons the largest of which has been the trade agreement between Australia and Japan, however there has been a lot of good data coming out of Australia which has certainly helped. Saying that however the Pound has also released impressive data that has slowed down the gains seen for the Australian Dollar. The data positive data from the Australian Government has included spending figures and unemployment which has fallen by a health amount. This has all helped to give AUD sellers a 6 month high!
I personally think that this trend could continue, there is still more data due from Australia next week which is expected to remain positive. This all points towards sellers being the only traders with a smile on their face, buyers however have probably now missed the multi-year high we reached earlier in the year. At the point we did suggest it would be worth taking advantage of.
Here we offer up to date information on the currency market plus access to award winning exchange rates allowing you to save thousands on your transfer. Now if you have been watching the markets and reading this blog with interest I hope you are feeling comfortable to get in contact when needed. You can contact myself or any of the contributors to this blog via the normal telephone number – 01494-787 478. Alternatively send me a direct email and I will get back to you personally. You can contact myself Steve Eakins via my personal email address – [email protected]
Have a good weekend!