GBPAUD rates remain volatile this week with a majority of the movement coming from the UK. The pound has gained significantly against a majority of currencies due to better economic data releases. This includes inflation and unemployment data which both showed significant improvements strengthened the pound as it gave the bank of England more scope to raise interest rates in the UK at the end of the year. Speculation around this topic remains one of the largest not if the greatest influential topic on the currency markets . This has given GBPAUD buyers a great opportunity to buy, over a 3 month high, and ignoring the beginning of 2014 the best levels seen for a number of years. This in turn gives a significant reason for people to take full advantage
Here however a very popular question we are asked is whether the markets will improve for me? Firstly no one has a crystal ball so no one knows but I do have my own views built on over 7 years’ experience of trading in the market. My view is that current levels are the highest we will probably experience, or close to it, for the next 3 weeks. I do however believe that rates could climb high still at the end of the year. So if you have a need in the near term I would move post haste, if you have longer to wait it may be worth too.
If you would like more information about what is happening, how we can help or a live price please contact the author STEVE EAKINS – HSE@Currencies.co.uk