Sterling has hit 1.80 against the Australian Dollar during today’s trading and I’m confident that we’ll see Sterling break through this level over the next few days.
The search for higher yields has seen the Australian Dollar improve and with the uncertainty in the US and the issue with inflation inevstors are seeking higher yields and a little more risk which is why the Australian Dollar has strengthened over this week.
Eurozone growth has suffered recently and lost momentum which has led investors to seek better returns.
With Quantitative Easing likely to be on the agenda at June’s ECB meeting I think there will be further falls for the Euro which could lead to Sterling gaining against most of the major currencies including the Australian Dollar.
UK jobless claims are at their lowest level in 5 years and with confidence sky high in the UK I think we’ll see Sterling improve against the Aussie during next week.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly Tom Holian [email protected]