Despite better than expected GDP figure released for Australia yesterday AUD has weakened considerably. Data from China, who are responsible for the majority of Australia’s exports continues to slow. The Australian is economy is to heavily reliant on the Chinese and it is causing serious problems.
The demand is not as high as before for Australian raw materials and weakening the currency through an interest rate drop may not be the solution.
GBP/AUD rarely stays above 2.00 for long due to profit taking, it may be wise to move quickly before the opportunity is lost. Procrastination and hanging on for the extra buck often proves costly.
Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me at [email protected] or call on 01494 787 478 and ask for Daniel Johnson.