Australian Unemployment rates increases

AUD to GBP Below Support as Sterling Holds Advantage

An increase in the Australian Unemployment rate to 6.0% from 5.9% has once again put a little pressure on the Australian currency. Comments by numerous parties that the Australian currency remains overvalued have done little to dent immediate value of the currency, considering sterling is on an upward trend however the outlook would to me favour the pound over the Australian dollar.

I think therefore anyone with a requirement to buy Australian dollars that are able to do so, might with to hold on to see just how rates perform over the course of the next few weeks. If you have a requirement to sell AUD for GBP then moving sooner might be the best course of action.

For more information at no cost or obligation please speak to me Jonathan on [email protected], I can help with the planning and execution of your transfers at award winning exchange rates.