GBPAUD rates look set to continue the slide of the last few weeks as the pound continues to be sold off in anticipation of further moves lower in the coming weeks and months. The dreadful news from Brussels has reinforced sentiments Britons will vote to leave the EU in June triggering sterling losses. Exchange rates are also struggling because of improved confidence in the higher yielding Australian dollar, this currency represents a higher rate of interest for investors looking to ‘park’ their cash somewhere more profitable.
Exchange rates move everyday sometimes 2-3 cents on the Aussie as investors buy and sell according to prevailing sentiments. What is headline news one day is forgotten the next as investors look for the next big thing to trigger a buy or sell decision. In the lead up to big events we can sometimes predict what kind of movements we will see and the big EU Referendum in June is such an event. If you have an exchange to consider then making plans in advance is the best way to limit your exposure, if you need or wish to discuss such a transfer please speak to me Jonathan by emailing [email protected]