There has been concern for the Aussie after the recent drop in Chinese growth but these are clearly being outweighed by Sterling weakness at present. The Pound has weakened due to the following factors:
- The EU referendum
- Below Par Inflation
- Poor Retail Figures
- Poor Manufacturing Data
- Rate hike now pushed back until 2017 at the earliest
The key data release this week for GBP/AUD will be UK GDP figures tomorrow at 9.30am which could well cause volatility. The question is which way is it going to go?
I think we are seeing new buoyancy levels for GBP/AUD at present and AUD buyers may have to have more realistic expectations of what they are going to achieve. 2.10 seems some distance off at moment.
Timing a trade during such volatile times can be crucial. As your personal broker I can monitor the market on your behalf and help you move at the right time in order to maximise the return on your trade. I am in a position to beat any competitors rates. If you have a currency requirement and would like my assistance please do not hesitate to get in touch. I can be contacted on 01494 787 478 and ask for Daniel Johnson or e-mail me directly at [email protected] . Thank you for reading my blog it is greatly appreciated and I look forward to hearing from you.