Against most expectations the GBPAUD rate continues to climb helped by a stronger pound and continuing fears over what lies around the corner for the Australian dollar. The market is ready for the rate to perhaps push higher if we do see another test of the 2.10 level. This important level of resistance could prove a killer below for anyone hanging on expecting the rates to just improve in their favour.
The likelihood is that the UK will continue to show good economic data and worries in China and other countries will continue to weaken the AUD. All in all if you need to sell the Australian dollar I think moving sooner rather than later is best, why take the risk?
If you are looking to send any funds internationally we are in business to offer information and assistance with any currency transfers that you will need to look at. For more information please contact me Jonathan on [email protected]