The Australian Dollar Sterling relationship has been a testing one over the last 14 days with new lows and new highs reached. The swing has been violent with a movement of over 4 cents in the space of only 3 trading days. This again highlights how important it is to time a transfer and to keep a very active eye on the markets almost 24 hours a day. Here this is exactly the service we offer helping people time their trade with an effort to help maximise the transfer they need to make. An example of which is I helped someone buy at the high on a property purchase and emigration saving them or giving them an extra $15,000 by timing it over a 7 day period, impressive as that is the 6 months average wage in the UK.
The reason for these swings is the changing views and mixed reports economically coming out of Australia, the UK and China and is something I generally expect to continue. I do however think that levels are on the way down and that they will probably reach 1.79 before they re-visit the highs of 1.85.
If you would like assistance with your transfer and a breakdown of what to expect please feel free to get in contact. We can also utilise both RATE ALERTS and SPIKE NOTIFICATIONS for you helping again with the all-important timing.
For more information contact myself, Steve Eakins – HSE@Currencies.co.uk