As we enter a new year I would first like to say a huge thank you to all of our regular readers and I hope you have found the site both useful and informative.
As we look at what is happening in Australia at the moment it is clear that things aren’t as good as they were perhaps 2 years ago when GBPAUD rates were as low as 1.50. Indeed, with Chinese growth having slowed during 2013 and 2014 this has seen GBPAUD rates climb up to as high as 1.92 in recent weeks.
Over the last few days China’s manufacturing activity shrank for the first time in seven months in December.
In November, the country’s central bank unexpectedly cut interest rates to 2.75% for first time since 2012 in an attempt to revive the economy. This helped push GBPAUD rates higher and I think this most recent data could see Sterling have a very positive start to the year.
If the RBA looks to cut interest rates in an attempt to get the economy going this could ultimately lead to a weaker Australian Dollar and push the market towards 1.95 over the next few weeks.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]