With the dust settling from Black Monday there seems to be some stability on GBP/AUD. The heavy reliance on China has took its toll on the commodity based currencies particularly NZD and AUD. There is still uncertainty surrounding the World second largest economy and when this is coupled with a potential property market crash in Australia things do not bode well for AUD.
If you are an AUD buyer you are currently in a very strong position buying at a 6yr high and it can come back to bite you if you procrastinate hanging on for the extra buck. the question is do you have the nerve to hang on for 2.20 +. Tuesday will see Chinese manufacturing figures which could cause volatility, so keep your eyes peeled.
I am currently offering a free rate alert service, just drop a line or e-mail with your currency requirements and the levels you are hoping to obtain and I will notify you of 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 [email protected] or call on 01494 787 478 and ask for Daniel Johnson.