GBPAUD rates have spiked up over 2 cents compared to the lows at the beginning of the week. This can be attributed to two main reasons; firstly Sterling Strength was seen this morning when Unemployment was shown to have fallen under 7% to the lowest levels for years, secondly with the building escalation in Ukraine risk appetite is low resulting in a general exist from the AUD currency.
It is over all quite surprising but could be the start of a rally back up for the Pound. The Ukraine scenario will probably continue adding fuel to the fire. I also expect the Oz government to try to weaken their currency in the months ahead to help their exports. This is probably over the next 6 months meaning long term we could see rates climb back up over 1.80 and potentially revising the 1.90’s dreamed about over the last few years.
In the short term however timing a trade will remain important to getting the best price. Here we offer a pro-active service helping people achieve just that. So if you are looking at trading the GBPAUD pairing it is always worth getting in contact; at the very least you will have another view on the markets, best results are that you will see a saving compared to your current provider. The second however is by far the normal result! Contact myself – STEVE EAKINS – either via my personal email at [email protected] or by calling on the normal number +0044 (0) 1494 787478.
Look forward to hearing from you,