The Australian dollar has simply been a roller coaster over the last 72 hours. Rates have changed by over 6 cents making a SIGNIFICANT difference on the cost of sending money interested and again goes to show how important timing a transfer well can be. Having the most information at had to make the most educated decision can make thousands of pounds difference plus using the right broker to keep you informed of these changes can simply be priceless.
The central change in policy at the Reserve Bank of Australia is one of the biggest drivers for change in the market and the value of the AUD. They surprised the market and cut rates earlier this week, only 30% of speculators surveyed by Bloomsburg thought it was going to happen. This changed the values a lot and also has heightened the likelihood of further falls in the months ahead. GBPAUD rates are now at the highest seen for years and are sitting around 1.9650. The next questions I am getting asked is whether it will breach 2.0? I think it is possible yes but we are talking months rather than days, there will be so many currency orders above slowing down any climb that we will need to see some significant economic data to make the move both possible and stick.
Currently I would be taking full advantage if I had AUD to buy in the next few weeks. Rates won’t move in a straight line so timing will remain important. For more information to on the expectations later this month please get in contact. Email me directly if you would like a personal approach at [email protected]