The Australian dollar has reached some of the best levels against sterling since January. The big question is will this continue? I think it is reasonable to say that longer term the AUD will weaken against the pound since the Australian central bank (RBA) have stated an intention to cut interest rates in the future. Looking at the market rates for the last few years we can see the rate has considerably deteriorated for those selling AUD to buy pounds, this is likely to continue further.
If you need to sell AUD for sterling making some plans in advance is often a good idea to limit your exposure to the market. If you have any questions on the market or wish to discuss all of your options please contact me Jonathan on [email protected]