Sterling Australian Dollar exchange rates have dropped to their lowest level in 2 months as the UK economy is ready to announce inflation data this morning.
The Pound has struggled against all the major currencies over the last few days as it has almost become a victim of its own success.
With Sterling riding so high since the turn of the year this is slowly beginning to affect British exports.
Indeed, UK factory orders published yesterday showed a fall to their lowest figure in 2 years.
Factory output is also being reported at the same levels as 2008 which is a concern for the British economy.
The target for UK inflation is 2% and we are clearly way off that at the moment and with oil prices falling globally I expect to see a fall in inflation today which could see Sterling weakness providing excellent opportunities to sell Australian Dollars into Sterling.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]