GBPAUD rates remain a good buy opportunity

Commodity Based Currency AUD Struggles During Global Uncertainty

The rates for buying Australian dollars above 1.80 represent I feel a great opportunity on the markets, once I think that everything should take seriously. with sterling coming under a lot of pressure this month, any further improvement in the Australian economic outlook could see us head back below 1.80. I do feel that sentiments towards the Aussie will improve despite fears and expectations we will see the Aussie weaken dramatically.

Investors will still want to get a good return on their money and with some riskier assets invoking fear, the Aussie is a safer riskier asset. If you need to move any funds into AUD with sterling or sell AUD and buy GBP tomorrow’s UK Gross Domestic Product data is the key piece of information. I expect sterling could come slightly unstuck so buyers of Aussies may wish to move before the release comes out. For more information at no cost or obligation please contact me Jonathan on jmw@currencies.co.uk