The pound strengthened against a weaker Aussie today as investors lost faith in the Chinese economy on the back of some worse than expected news in the latest economic figures out of China. The pound then rose on the back of better than expected PMI data and whilst rates were some one cent higher at the end of the day there were about a cent of the best rates of the day for buying Aussies.
All in all I feel if you have Aussies to sell the longer term forecast does not bode well as markets are pricing in further AUD weakness on the back of a Chinese economic slowdown. If you are selling AUD for GBP I believe trading on the spikes is the best thing to do, if you have any currency to move than please let us know immediately so we can offer useful assistance on the rates.
Please contact me Jonathan on [email protected] for more information.