Over the last month GBP/ AUS has fluctuated over 10cents, from the high to the low. This means for clients buying $100,ooo.oo they would have paid an extra £2,631 at the low compared to the high. The question now on all clients lips is ‘will the Aussie rally or fall?’
The Aussie rallied last night off the back of poor retail sales figures, the interbank level now in the higher 1.98s. If I was looking to buy the dollar over the upcoming months, I would be tempted to purchase now or possible place a limit order into the market to try to achieve 2.
One thing to note is a slow Chinese economy is having a negative impact on Aussie exchange rates. Once the Chinese economy picks up the Aussie economy will follow. Therefore for clients purchasing a foreign currency its crucial to be constantly informed of market movements and economic data. If you are looking for regular updates and to achieve the best exchange rate feel free to get in touch by emailing [email protected] or call 0044 1494 787 478 and quote Dayle Littlejohn.