Australian Dollar exchange rates are still finding it hard to bounce back against most major currencies after the RBA cut interest rates down to 1.75% earlier in the week.
A cut in interest rates is generally seen as negative for the currency concerned and a hike in rates can be seen as positive, this is due to the fact that it makes it more attractive to investors.
There are still plenty of issues with the Australian economy and I feel that we will see more come from this in the coming weeks and months, not to mention the fact that the issues with China have seemingly been swept under the carpet. Add these to the fact that we may see an election called soon and the outlook is not great for the Australian Dollar.
For those with an interest in GBP/AUD you must be slightly wary of the upcoming referendum and the potential ‘brexit’. I still personally feel that the U.K may stay within the EU and Sterling may push back through 2 against the Australian Dollar but we need to remain wary of the risks of Sterling dropping should the U.K leave.
If you have the need to buy or indeed sell Australian Dollars for your business, due to a property purchase/sale or for any other reason then it is important to have a proactive broker on your side and one that can get you the very top levels of exchange – It is very easy to settle for second best in this market but it is key to realise that even the slightest improvement in a rate of exchange can save you a huge sum of money.
If you would like to have a brief discussion with me (Daniel Wright) as to how I will be able to assist you with any pending currency exchange then feel free to email me directly on [email protected] and I will be more than happy to get in touch with you personally. We can cater for people inside our outside of the U.K and carry out bank to bank transfers.