Will the Recent GBP/AUD Trend Continue? (Matthew Vassallo)

Will AUDAUD to GBP Slips as Australian States Tighten Borders to USD Retest the All-Time Lows?

GBP/AUD rates have spiked up again during Friday’s trading, with the pair sitting comfortably above 2 on the exchange. Many clients had been waiting for this glass ceiling to be broken before securing their AUD positons and despite the positive momentum we’ve seen, I would be tempted to lock in around the current levels. With the pair currently sitting near a 6 year high, I feel it is certainly an opportune moment to purchase AUD for anyone with an upcoming requirement.

When you consider the recent history on the pair, every time we have seen Sterling move above 2 the AUD quickly finds support and moves back below this threshold. Whilst I don’t anticipate GBP rates to slide dramatically anytime soon, I do feel we are seeing the Pound peak. With so many factors helping the Pound hold its value, it would only take a slight improvement in the situation with Greece, or a drop off in UK economic data and the recent trend would likely come to an end.

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