The Australian Dollar has had a profound move this week, hitting the psychological limit of 2 dollars to the pound. The future doesn’t look too rosey as the Reserve Bank of Australia have indicated yet further interest rate cuts. The current rate of 2.25 won’t be around for long, so AUD sellers should seriously consider selling whilst 0.50 and better is still achievable.
If you are buying Australian Dollars, feel free to get in contact and request an automatic buying order for levels above 2.0. Alternatively if you are selling Australian Dollars, get in contact to arrange selling them ASAP! Obviously that is my opinion, however the markets look like they are very much heading in only one direction…! Andrew Bromley – Australian Dollar Desk 01494 787 478 AJB@currencies.co.uk