The Australian Dollar’s rally against the Pound has continued overnight with solid GDP growth figures for the month of February in Australia dispelling much of the recent anxiety over performance following events in China.
Growth for the year has now been revised upwards to 3%, a fantastically high figure compared to a UK economy who have recently had their forecasts revised downwards below 2%.
Since Black Monday last August Australia has been forced to diversify their trade partners away from their reliance on China, and such efforts appear to be bearing fruit. With the strong US Dollar and a still relatively cheap AUD the American market for Australian goods has exploded.
Unfortunately, due to the UK’s reliance on financial services to fuel their economy, the recent global slides on the financial markets caused by weaker global growth, most principally in China, are something which we cannot hide from. Hence the Pound’s prolonged struggle since December.
I strongly recommend that anyone with Australian Dollars to buy should contact me today on 01494 787 478 and ask the reception team for Joshua in order to discuss a strategy for your transfer to maximise your Australian Dollar return in the time period you have to make your transfer.
I have never had an issue beating the rates of exchange offered elsewhere, and these current levels can be fixed for up to a year to avoid any further adverse movements affecting your transfer. I remember this time last year I was offering buying rates in the 1.80’s for Australian Dollars so there is certainly still room for further falls.
Similarly Australian Dollar sellers can get in contact on to discuss how to safely ride the expected movements in your favour as we get closer to the election to their completion. [email protected]