Great Time To Sell Aussie Dollars (Colm Gilhooly)

Commodity Based Currency AUD Struggles During Global Uncertainty

With yesterday’s Bank of England Minutes fading already the pound has been sliding again versus the Aussie Dollar, and with very little data out in the next few days and a UK bank holiday on Monday it appears there isn’t much support for the pound against the Aussie at the minute.  My mantra for the last few months has been to buy Aussie over 1.80 and sell Aussie under 1.80 so the current levels look reasonably good to me.

Longer term I am sure the pound will find some traction again as interest rate hikes are obviously going to happen at some point just maybe not so quickly as some analysts expected hence the recent dip in sterling.  If you need to make a currency transfer to or from Australia and want to get the best exchange rate, then feel free to email me, Colm, at cmg@currencies.co.uk and I would be happy to explain how our money exchange service works and what sort of exchange rate you can get through us.