Yesterday GBPAUD plummeted over 3% throughout the trading day. The reason for the drop is the volatility surrounding the UK’s referendum.
David Cameron towards the end of last week secured a deal with European leaders that enables the Prime minister to announce the UK will hold a referendum on the 23rd June.
Late Sunday evening the ‘in’ vote was seriously dented due to Boris Johnson pledging his allegiance to the out vote campaign.
Sterling crashed yesterday against the Australian Dollar this trend is set to continue until June 23rd. If you are buying Australian Dollars within the next 4 months I would recommend locking into a contract sooner rather than later. Where as if you are selling Australian Dollars I would hold on and try to achieve the low 1.90s.
Going forward I can give you economic information to help you time your transfer and also offer you a better exchange rate than what you would receive with your bank and other brokerages. This can be anywhere between 1-5%. My direct email is [email protected] Dayle Littlejohn. Alternatively call me on 0044 1494 787 478 and ask to be put through to Dayle Littlejohn.