The Aussie has strengthened against a much weaker pound this week. The outlook would appear to favour the Aussie over the pound in the short term and if you need to sell Australian dollars for sterling, this is a very good time and close to some of the best rates we have had in recent years. The Aussie has a strong habit of strengthening against other currencies owing to its prominence as a high yielding currency. That means it offers a higher return to investors who invest there than other currencies. This means when investor sentiment is strong (as now) the currency performs well.
If you need to buy or sell Australian dollars this is well worth being aware of, for more information please email me Jonathan on [email protected]