Australian Dollar exchange rates have remained reasonably calm throughout trading today even with the ongoing issues over in China. We are seeing a fair amount of volatility for the AUD during the course of each trading day but I personally feel that sometime in the near future we may see another fairly extreme day on the markets.
I remember a number of years ago when the Australian Dollar moved almost 20 cents in a day against the Pound and that really did give us a headache on the trading floor trying to secure currency for clients whilst the rate is moving around more than an in-swinger from Jimmy Anderson on an overcast day.
Although I seriously doubt we will see that much movement in a single day I would not be surprised to see a pretty large swing as there are lots of different factors that may influence rates in the near future.
Interest rates, Chinese data, Australian economic data, Glenn Stevens and RBA announcements are just a few factors that need to be taken into account.
If you are looking to buy or sell Australian Dollars in the near future then it is key that you ensure you have protection in place. We offer many different contract types inclusive of a Stop loss order (setting a minimum level you wish to achieve) and forward contracts (booking out a rate in advance with a small deposit).
We also offer the very best rates of exchange on the market too, feel free to get in touch with me (Daniel Wright) directly on [email protected] if you do need to buy or sell Australian Dollars in the near future and I will be more than happy to call you personally to discuss the various options available to you. I look forward to speaking with you soon!