With GBPAUD fluctuating around 1.90 the golden question is will GBPAUD drop into the 1.80s leading up to the UK’s referendum or will GBPAUD rise back towards 2 due to a failing Chinese economy.
China’s credit rating has been downgraded to an outlook of negative, Retail Sales and Industrial Production have also declined and Chinese exports fell 25.4% in February compared to this time last year. Therefore I wouldn’t be surprised to see the RBA cut interest rates within the next 6 months.
However in the meantime the ‘Brexit’ is going to continue to weigh down on the Pound providing windows of opportunities for clients selling Australian dollars to buy Pounds.
If you are buying or selling Australian Dollars I would recommend getting in touch to put a strategy in place, which will maximise your returns. In order to protect you against market fluctuations we have different contract options available that will meet your needs and requirements.
In addition if you have a currency transfer that is immanent and you want to save money on exchange rates compared to using your own bank or the brokerage you already use then contact me directly for a free quote. Dayle Littlejohn [email protected]. Alternatively if you would prefer to call me, our trading lines open morning at 8.30am UK time, +0044(0)1494 787 478 and ask for Dayle Littlejohn.