Since Wednesday of last week GBP/AUD has dropped over 4 cents making a AUD purchase of 200k, £1,600 more expensive. For people holding out for a buying price in the 2.20s, they should think again. Its important to realise this time last year GBP/AUD was trading in the lower 1.80s.
Sterling has taken a hit in recent weeks, as Mark Carney Governor of the Bank of England stated an interest rate hike in the UK wont occur until 2017. Further to this UK inflation is at a worrying low and today’s inflation hearings could dent the pounds purchasing power further. Its important to note the hearings have been delayed for 2 weeks and this is therefore causing further volatility.
As for the Australian Dollar it appears China’s stock market has begun to settle and therefore the Dollar has started to make some of the losses back against the major currencies.
If you have an upcoming currency transfer and I have not covered the currency pair that you are looking to trade (AUD/EUR, AUD/USD, etc). Feel free to email me with the currency pair and your individual requirement (buying a property abroad, paying a company invoice) and I will personally respond to you with a forecast and the buying process. [email protected] Dayle Littlejohn. Alternatively call 0044 1494 787 478 and ask for Dayle Littlejohn.