With new buoyancy levels set between 2.11 and 2.14 if you are an AUD buyer it may be time to reevaluate your trading strategy. If you are an AUD buyer and you have to move short term, look to purchase anytime GBP/AUD moves above 2.1350.
If you are selling AUD I would get a trade done ASAP. There are serious underlying problems in Australia’s economy due to the property bubble and China’s slowing growth which will undoubtedly cause AUD weakness further down the road.
The RBA have already indicated they are willing to take measures to weaken AUD, but I think this is heavily dependent on Chinese data. With China’s growth stabilizing I think it is unlikely that the RBA will drop interest rates. It is however well keeping an eye on the outcome which comes in November 3rd at 3.30am.
I do have consistent GBP/AUD trades going through 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 will guarantee to beat any bank or brokerage’s exchange rates.
Thank you for reading today’s Blog, I really 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.