Unemployment figures released for the U.K this morning bought us a mixed bag for Sterling and as I write this the GBP/AUD exchange rate is fairly stable at roughly 1.79.
Unemployment figures for the U.K have dropped to 6.6% which is seen as good news, however the average earnings did not grow with as much pace as had been expected. This figure is important as it will also play a key role in the possibility of interest rate hikes for the U.K. Interest rate hikes generally can make a currency more appealing to investors and even speculation of a rate hike can lead to a spike in value for the particular currency.
It seems worries about the Australian Dollar getting too strong have died down a little but I also think that come the end of the year the Pound will be stronger against the Australian Dollar as long as now major surprises arise.
If you have the need to either buy or indeed sell Australian Dollars in the near future then I can help you even if you are happy with prices from your bank or current broker there is usually room for improvement and a saving which means more cash in your pocket.
Feel free to get in touch with me directly for a comparison or an explanation of our service and I will be more than happy to contact you personally, you can email me on [email protected] with a brief explanation of your needs and I will be happy to call you.