We have seen a boost for anyone looking to buy Australian Dollars in the near future following fairly poor economic data from China overnight.
Import, export and trade balance data all came out much worse than had been expected which has weakened off the Australian Dollar which had been absolutely flying last week following no changes in interest rates by the RBA.
Personally, I feel we should head close to or even above 2 for Sterling into the Australian Dollar however you must be extremely wary of the general election which is currently hotting up in the U.K and appears to be fairly close.
The problem this brings is political uncertainty which is generally quite damaging for a currency as investors and speculators will tend to steer clear of the Pound until we see something a little more concrete regarding who will be running the U.K.
If you have Australian Dollars to buy it may be prudent to look at booking out half of your requirement prior to the election to ensure you aren’t fully caught out should rates take a turn for the worse after it.
If you are looking to buy or sell Australian Dollars and you want to get a better rate than your current provider, along with a highly efficient level of customer service then feel free to contact me (Daniel Wright) directly on [email protected] and I will be more than happy to contact you personally to discuss your options and let you know how I can help.