GBPAUD rates return to favour for Aussie sellers…

AUDGBP Advances from 2020 Support Level

Perhaps one of the most talked about concerns regarding the Aussie is its ‘overvalued’ status. In short because the Aussie has been used by speculators and strengthened so much in recent years, many are expecting that in fact the Aussie will be sold off in much the same way it was bought. These expectations are the result of the RBA (Reserve Bank of Australia) categorically stating that the Aussie is overvalued and a weaker AUD would help their exports.

If you need to sell AUD for the pound, rates are an improvement on recent levels as sterling has dipped. I would not expect this to last too long and I would expect that further falls later in the year will see rates move back to the kind of levels seen before Christmas.

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