Today saw some serious gains for Australian Dollar buyers today, with GBP/AUD moving up by more than 3 cents from the absolute lows to begin today.
The thanks for this can be lain squarely at the feet of Barack Obam’s current and final visit to the UK, and the increased confidence brought to markets that the UK will be avoiding a potential Brexit.
Obama is more popular than the UK’s own PM in the UK surprisingly, and his presence and pleading for the UK to remain for the sake of the international community, is expected to result in further votes for the Remain camp.
Well, this is what the consensus currently is in the currency world and this is what caused the reaction on GBP/AUD rates of exchange.
Unfortunately for Australain Dollar buyers this is likely to be short-term fanfare rather than any true change in the current uncertainty surrounding the Referendum, and therefore on recent trends for buying AUD rates.
The most recent polls do suggest that the camps are still neck-and-neck, with the key fact that 12% of the population are still undecided to continue to feed market uncertainty and Pound sell-offs in the run-up to June.
Furthermore, the recent gains in Australian growth, the slight recovery in the commodity markets, and a more stable China will continue to feed Australian Dollar strength against the Pound which has been a constant factor since February.
The next piece of data will come out late on Monday which will likely paint the Australian Dollar in this positive light, and begin the continued negative trend on GBP/AUD.
With the current volatility on GBP/AUD, further opportunities may present themselves on Monday to be seized before the data releases emerge.
I strongly recommend that anyone with an Australian Dollar buying requirement should contact me on [email protected] directly over the weekend whilst markets are closed.
I can reply directly once markets open on Monday to discuss a strategy for your transfer based on the expected trends for the day which will be suggested to us from very early morning Asian trading.
I have never had an issue beating the rates of exchange offered elsewhere. Simply email me with a brief description of your upcoming requirements over the next few months, and the best number to reach you on to discuss a strategy for your transfer that suits your needs, in order to mazximise your Australian Dollar return. Calling Australia is not an issue and I regularly do so following enquiries from my articles.