GBPAUD is likely to fall in the coming weeks owing to uncertainty surrounding the UK election. Political uncertainty always causes weakness on exchange rates, we have seen this countless times and whilst it is tempting to hold on and hope for better rates, it could lead to disappointment. Of course depending on how long you have to consider any exchanges the RBA (Reserve Bank of Australia) are predicted to cut rates in the future.
The rates could then easily weaken which would present some good opportunities. If you have the luxury of being able to wait month to buy your Aussies then holding on is a good idea. If however you need to make a payment in the next few weeks moving sooner might be best. The reverse too applies, what could be bad news for AUD buyers is a good opportunity for AUD sellers. Selling Australian dollars for the pound in the next few weeks ahead of the UK’s General Election might be a very good idea.