A raft of impressive Australian data has helped lift the Aussie higher against most currencies. The recent improvement in the Unemployment rate from 6.1% to 5.8% helped the currency to rise, as has the new trade agreement.
We are therefore at much improved rates to buy the pound with Aussies and anyone holding them to GBP would be better off moving sooner to avoid disappointment. This is a 6 month spike and longer term prospects still I feel favour the pound. Next week is a whole range of Chinese data (GDP, Retail Sales) which can move the Australian dollar. We also have the RBA (Reserve Bank of Australia) Minutes form their latest meeting so there is plenty to move the market.
Next week and the following week are shorter weeks due to the UK Bank Holidays so it may be wise to look at your transfers sooner, and to bear in mind extra banking days. For more information you can open a free, no obligation trading facility by clicking here. For further information please feel free to contact me directly on [email protected].