The pound has risen against a number of currencies this morning including the Australian dollar and the levels are now well over 2.13. Just what can we expect in the future from this currency pairing? Well with the RBA (Reserve Bank of Australia) likely to cut their base interest rate again in the future it seems reasonable to expect that this price will keep going higher particularly as the Bank of England are potentially going to raise their own interest rate following the impressive economic data.
All in all we are returning to more historical levels on the currency pair which I cannot see being sharply reversed any time soon. I think that if you need to sell Australian dollars for the pound moving sooner is the best course of action to avoid further losses.
For more information on what will move your rate and what to expect please contact me Jonathan on [email protected]