GBPAUD rates have climbed significantly over the last few weeks and it is something I generally expect to continue. With commodity prices falling along with demand from China the Australian economy has been weakening along with its currency making it cheaper to buy. We have key data again this evening from China and Australia and both are expected to show a similar stance resulting in more gains for anyone with AUD to buy.
The question really now is when will levels peak, when is the best time to buy?
My view, 1.90 would be a fantastic opportunity but with it only being less than 1% away and rates currently at a near 4 year high I would not ride to much soon.
Sellers are however in a concerning situation receiving significant less than they have been, AUD has weakened by several percent this last week and smiles are certainly upside down.
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