GBPAUD exchange rates saw another rise up on Friday following the release of UK retail sales which were the best for over ten years.
The success of the recent Black Friday helped the figures to show a growth of 6.4% against the expected 4% rise. This marked improvement was great news for Sterling and anyone with a requirement to buy Australian Dollars at the moment.
UK GDP for Q3 is due out on Tuesday morning and this could see the Pound gain even further is the revision comes out positively.
The expectation for GBPAUD rates this side of Christmas are looking good so it may be worth getting something organised prior to the Christmas break.
As the price of iron ore has fallen to its lowest level in years and oil prices close to a 6 year low this is putting pressure on the Australian economy.
The recent jawboning by the RBA has suggested that a rate cut may happen in the first quarter of 2015 and with Goldman Sachs, Deutsche Bank and Westpac all wanting a rate cut this could weaken the Australian Dollar and we could see Sterling gain as and when the rate cut takes place.
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 [email protected]