Sterling Australian Dollar exchange rates fell by as much as 3 cents this morning as Chinese inflation data came out higher than expected.
After a very poor run recently vs the Pound the good news out early this morning helped to strengthen the Aussie vs Sterling exchange rate.
However, I still think the Chinese have worse to come as with their stock market having fallen by so much and Chinese GDP at its lowest point in years this will ultimately impact upon the Australian economy.
With commodity prices at 16 year lows and Black Monday just a fortnight ago this has really dented confidence in the Australian Dollar vs Sterling and I think there is still worse to come.
If you need to sell Australian Dollars it may be worth considering a forward contract if you don’t have full availability of funds which allows you to fix a price for the future.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]