The Australian Dollar at the best of times is very hard to predict, however it seems now more than ever. During yesterday afternoons trading, rates looked to be again knocking on the door of the 2.00 level. This can be tied with the neighbouring New Zealand Dollar Inflation levels, as the sentiment for the Southern Hemisphere currencies tends to spread locally. The New Zealand economy hit the headlines yesterday as inflation expectations were reduced, which goes hand in hand with overall expectation that interest rates wont rise for an extended period of time.
I personally feel that the trading range (pre UK election) is circa 1.96 to 1.99. Obviously the chances of hitting the extremes is much slimmer, however still achievable. Therefore if you have AUD to buy, my opinion would be aim for 1.98 +. Those selling may be wise to take advantage when levels are close to 1.96 – maybe not what you want to hear but may be the best of what is a worsening situation!
If you do have a currency requirement, please feel free to get in contact on 01494 787 478 – please ensure that you ask for Andrew Bromley and quote this blog – that will ensure access to unbeatable exchange rates! Alternatively, drop me an email to AJB@currencies.co.uk – I’ll be in touch with a response