GBP/AUD exchange rates still continuing to test the 1.90 level (Joshua Privett)

Australian Dollar Forecast: AUD Holds Firm Against US Dollar

At this point, it seems that it is only a matter of time for when GBP/AUD rates will drop below 1.90.

The factors which are causing the Pound to weaken so extensively against the Australian Dollar are not only an long-term economics but also politics.

The UK economy has been slowing. The men at its helm have said so themselves, and they have regularly been proven correct by the data released for markets to gauge recent economic performance.

The reason GBP/AUD levels almost broke through the magical 1.90 level is because UK retail sales figures released yesterday morning were disappointing and underwhelming. 

The retail sector has been positing poor figures for months, but the consensus was for a turnaround in February. However, instead of the 2.6% gains forecasted, only a 0.1% improvement was forecasted.

The severe market reaction was because one of the most significant events of the month, UK growth figures, are to be released this afternoon at 15:00 GMT.

These retail sales figures are suggestive of a further underwhelming figure for total growth, which may be enough to push GBP/AUD below 1.90 finally.

Due to the political element of a looming Brexit, this is why analysts are entirely confident of a breakthrough the 1.90 level and below as we edge closer to June.

There is still time today to discuss current buying levels and to receive a competitive quote on your transfer.

I strongly recommend that anyone with an Australian Dollar buying requirement should contact me on jjp@currencies.co.uk for a free quote on your transfer and to discuss your options in order to maximise your AUD return.

I have never had an issue beating the rates of exchange offered elsewhere, and anyone who is worried about further falls affecting their future transfer, these current buying levels can be fixed to avoid a wait becoming expensive for you.

Australian Dollar sellers can do the same, and I can discuss the best way to ride the expected movements in your favour to their completion. 01494 787 478