Sterling Australian Dollar exchange rates briefly tipped past 1.84 immediately following the release of the Scottish Yes vote on early Friday morning. Sterling rallied across the board against all major currencies but slipped back later in the day’s trading session as global investors took advantage of the spike.
It is important that you keep in contact with your currency broker who can provide further detailed information about the currency markets rather than just simply offer you an exchange rate like your bank.
The Reserve Bank of Australia has recently suggested that the Australian Dollar has been too strong which ultimately leads to less business for Australian exports as consumers look elsewhere for cheaper goods and services.
With almost a 14 cent move in less than a fortnight for GBPAUD rates the timing of an Australian Dollar currency transfer is crucial as this movement does not happen too often.
This week I expect to see small gains for the Pound vs Australian Dollar as things settle down.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote Tom Holian firstname.lastname@example.org