Sterling Australian Dollar have finally made a sustained break through past the resistance levels of 2 or 50p against the Australian Dollar.
It has taken a few weeks but for most of last week GBPAUD has remained 2+ creating excellent buying opportunities for those looking to buy Australian Dollars with Sterling.
There have been signs that another interest rate cut in Australia may happen before the end of the year as business has slowed down.
One of the sticking points for the RBA and a change in monetary policy is that any rate cut could have big consequences on the Sydney & Melbourne property market which has risen significantly in the last few years.
With the ongoing uncertainty surrounding the Greek debt issue global investors have moved funds away from riskier currencies including the AUD, NZD & ZAR which are all affected by the falls in commodity prices as well.
It is likely that until the Greek issue is sorted, if that ever happens, that we could see the Australian Dollar strengthen back against the Pound but I think that could take some time.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]