The Appointment of Malcom Turnbull causes AUD Strength (Daniel Johnson)

Increase in Risk Appetite Helps Support the Australian Dollar

Tony Abbott has been ousted from his postition as Prime Minister. The appointment of Malcolm Turnbull has given AUD some much needed strength. It seems the world economy has a more positive outlook for AUD due to the change.

I did say in a previous blog it would be wise to move if we hit 2.1850 but as usual the gamblers were hoping to achieve 2.25 + despite resistance at 2.20. There is a cloud still hanging over the Australian economy due to the uncertainty in China however I don’t think there will be any shock announcements short term. China’s economy is shrouded in secrecy due to the amount of shadow banking and due to their set up, economic data can be hidden and manipulated.

I don’t think the problems in China will come to light for a long time. If I had an AUD requirement I would be moving if GBP/AUD hits 2.1650. to procrastinate can prove costly.

I do have several large GBP/AUD trades going through in the coming days that potentially I could tag new clients on to and achieve a very competitive rate. Please do get in touch if this is something of interest.

I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements including your time scale and the levels you are hoping to obtain and I will notify you of  any significant movement.

Thank you for reading today’s Blog, I would greatly appreciate any feedback you have and would take pleasure in replying personally. I am more than than happy to assist you with any of your currency requirements. Feel free to e-mail me on dcj@currencies.co.uk or call on 01494 787 478 and ask for Daniel Johnson.