As predicted in a post of mine towards the start of the month the Australian Dollar has had a rough ride lately and the Pound has come well and truly into fashion.
We have seen exchange rates cruise up and above the 2 level for those looking to buy Australian Dollars with Sterling and this is due to a number of factors:
It appears that the remain campaign are edging ahead in the latest referendum polls and this has led to a lot of uncertainty coming away from the Pound and because of this the Pound has started to gain back value.
Interest rates have recently been cut over in Australia too, an interest rate cut is generally seen as negative for the currency concerned and a rate hike is seen as positive, so the recent cut for Australia has led to the Australian Dollar falling out of fashion and losing ground against most major currencies.
We are fairly quiet on the data front for the rest of the week but with this particular pairing being open to movement on global risk sentiment do not think that we will not see much in terms of market volatility.
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.