The Pound dropped and edged closer to 2.10 in trading this morning following worse than expected U.K retail sales figures.
Expectations of a figure around 0.3% for due were swiftly crushed as the level came in at -0.2%.
Over the course of the morning the Pound has now dropped against all majors, seeing a movement of over 0.5% against the Austrlian Dollar. (This means a purchase of AUD 300,000 would cost over £800 than it would have done earlier this morning.
This once again shows why it is key to have a proactive and efficient currency broker on your side if you have a pending transaction like this to carry out. Not only would we have made you aware of this data release due to be coming out but we would also inform you of the various options that we have available to protect yourself from such market movements… Or if you are selling Australian Dollars to buy Pounds we can help you take advantage of these sharp market movements, without the need to be available 24 hours a day.
If you have an upcoming currency exchange involving either buying or selling the Australian Dollar then it is key that you have someone like me on your side as it can make a huge difference to the amount of money you end up with.
Feel free to contact me (Daniel Wright) directly on [email protected] and I will be more than happy to get in touch personally.