Sterling is once again creeping close to the 2 level against the Australian Dollar and could well push through it in the coming days if we do get either one more piece of fairly negative news from Australia or a further piece of positive data for the U.K.
If I had Australian Dollars to buy then the route I would currently look to head down would be to place a limit order into the market at a level of 2. The way this works is once an order is in place, should your trading level hit two (even for a matter of seconds) then your currency will be bought out automatically for you and we would notify you at the earliest opportunity.
If you are based in Australia then this means you do not need to be available all night should the rate move during the day and likewise if you are U.K based and data comes out in Australia overnight to move the market and cause a short term spike you will not miss out.
If you would like more information or to place this free and handy market tool then call me on (0044) 1494 787 478 (overseas) or 01494 787 478 in the U.K or email me on [email protected] and I will call you personally.
We have very little data out for Australia in the coming week or so and it is also Chinese new year so we do not even have Chinese data to have an effect on the Australian Dollar.
Because of this focus for this pairing will be on U.K economic data and the Pound which has been fairly promising so I would not be surprised to see the opportunity of buying at a level of 2 arise.
As mentioned feel free to email me (Daniel Wright) on [email protected] if you have the need to buy or sell Australian Dollars either now or in the coming weeks and months and I will be more than happy to help you.