The GBPAUD rate has been particularly impressive of late with the uncertainty in china and rising sterling helping the rate reach almost 2.25! Will this good run of form for the rate continue or will we soon be back under 2 wondering why we didn’t buy whilst the rate was so good! I think on balance there is a strong likelihood the Aussie will consolidate particularly with sterling falling against most currencies as investors fear the UK economy will not be ready for the interest rate rise that was previously planned!
All in all if you need to buy AUD with pounds I think taking advantage of the current spike is sensible, why take the risk of rates moving further against you in such an uncertain global environment? For me making the most of your transfers is always sensible when you don’t quite know what to expect.
For more information please contact me Jonathan on [email protected]