The Sterling Australian Dollar exchange rate has been fairly varied through the last few trading sessions. These seem to be driven by factors around the world but it has been the UK’s fall in favour which has had the biggest impacts. The UK economy has been showing real worrying signs of slowing and in turn we have seen the value of the Pound fall making almost every currency more expensive to buy. Earlier today we had the latest Inflation Report from the Bank of England and this confirmed these concerns. It seems the general global uncertainty, the fall in financial markets around the world and the fall in Oil is impacting the UK’s health more than most.
As a result GBPAUD rates are falling and I would not be too surprised if we see this continue in the near future, the trend is expected to continue. This means that if you have AUD to sell this is great news and you may want to be in a position to take advantage. If you do want more information on this current high for AUD sellers please contact Steve Eakins at [email protected] or call +44 1494 787 478
Moving forward I expect rates to drop further meaning that buyers should also be wary.
Overnight we have the latest updates from the Reserve Bank of Australia and with it we will get a better idea of the economic health of the economy, this will have an impact on the strength of the AUD and therefore the cost of buying or selling the currency. It is likely that the economy would have slowed but what will impact the market most is finding out by how much. The market would have priced in an expectation and how far away from that will impact markets. If the forecast has been made correctly rates will probably stay around the current figures, this is however unlikely. I expect they too have actually performed better resulting in strength being given for the AUD as demand for the currency increases. The ‘other side of the coin’ however is that their health is poorer than expected due to perhaps the slowdown in China. If this happens a opportunity will be available for anyone with AUD to buy.
If you would like to be updated as soon as this news breaks please register your interest and get in contact now. Email myself STEVE EAKINS at [email protected] or call +44 1494 787 478 with your contact details and situation so I can thereafter inform you of the change.