Clients looking at buying the AUD may start to become wary of rates this week. We have seen levels generally fall in the favour of the AUD making it more expensive to buy. Saying that however over the last 3 months rates have only moved by 4 cents which is a respectively low amount of movement for one of the traditionally volatile currency pairs. My personal view is that I do expect a the see-saw movement to continue with neither currency taking any significant gains in the next 3-0 days. I
In the near future however I do think levels are more likely to continue to fall rather than climb. There are views in the FX world that the Pound could be overvalued and a correction could be around the corner. The IMF this week already came out this week saying that Sterling’s value could be too high by as much as 10% – 15%. Next Tuesday the Reserve bank of Australia release their interest rate decision and accompanying statement and this will be the next focus.
Should you wish to discuss the market and remove the risk of losing out feel free to get in contact for a no obligation discussion. We have been helping people trade for over 15 years so are well placed to help. Plus with award winning exchange rates on offer you can be sure you could save money, simply put if that was not the case we would not be in business.
Contact the author STEVE EAKINS via email at [email protected]