GBPAUD rates at near 3 month HIGH
Buying AUD has been becoming cheaper and cheaper to do. GBPAUD rates have climbed by nearly 7% in the last 30 days and now sit at the highest levels seen since February. Trading £200,000 into Australian Dollars now in comparisons to 6 weeks ago currently gets you move than $40,000 more. To take full advantage of this opportunity please get in contact now – email me Steve Eakins – [email protected]
GBPAUD – has it reached its peak?
Moving forward I don’t expect these better levels to last. News from the UK referendum will probably weaken the pound and the forecasts on the US dollar I think it’s little weak meaning the AUD will probably return to favour.
The UK Referendum is now less than a month away and current polls suggest it will be an easy win for the ‘Remain’ campaign which has helped push up the value of the Pound making buying any currency with Sterling cheaper to do. As we get closer to the event I don’t think that Sterling will remain as strong. Like we saw in the build up to elections in the past and the Scottish referendum, the uncertainty returns in the last two weeks weakening that currency. So it seems highly likely that we will see Sterling’s rate and therefore the cost of buying the Australian Dollar to rise in the coming weeks.
GBPAUD forecast this week
In the near future we have the latest GDP figures from the UK on Thursday – again this is more likely to weaken the pound rather than strengthen it. It seems very probable that the uncertainty seen and discussed this year around the future for the UK would have slowed down domestic economic activity which could be seen in this release.
As a result if you are looking at buying GBPAUD this week I would suggest moving today or tomorrow.
US interest rate decision impacting the Australian Dollar’s value
The US speculation on interest rate change could also impact the value of the Australian Dollar. The market is still very much unsure about when the next hike will come, potentially June or September. As the world’s largest economy this will have a ripple impact on a majority of currencies, those who trade in the dollar, peg their currency to the dollar, commodity currencies as these commodities are normally priced in USD or indeed those with a large debt to GDP figure as these financial facilities are normally coming from the US.
As the AUD is widely used in carry trades the decision make in the FED will have an impact on the risk appetite of traders and therefore in the demand for the Australian Dollar and therefore its value. It is certainty a story which will have a long impact on currency markets globally and certainly will impact the value of the AUD.
To learn more about the above, the forecasts for the AUD and indeed to get a live price for comparisons purposes please feel free to get in contact. Email myself, Steve Eakins, directly at [email protected] for a personal response.