GBPAUD has finally done what many clients have been waiting months and years for. GBPAUD has finally risen above the magic number of 1 GBP for 2 AUD’s presenting the best time in 6 years to buy Australian dollars. The question rightly now is will this continue and what can we expect next on this exchange rates pairing? All in all I expect the rate to remain very favourable but there is easily a danger we could dip below this important level of resistance. If you need to buy Australian dollars it would be a real shame to miss out on these exceptional improvements, I strongly suggest making some plans immediately to try to capitalise on the situation.
If you need to sell Australian the future is not bright and you might want to make some plans to exit the currency and look at other more stable options like sterling. The housing market in Australia is booming but if you are selling over there and coming back to the UK you could potentially lose out from a poor exchange rate. For more information on the currency forecast and how to plan and execute your exchange rate please speak to me Jonathan Watson on [email protected]. I cannot tell you exactly what to do but I am confident I can offer useful insight and information to help you get the best deals.