In the last 4 weeks GBPAUD had gained over 17 cents for two main reasons:
1 – Australian inflation plummeted which led to the RBA cutting interest rates from 2% to 1.75%
2- There has been a change of sentiment in the UK in regards to the EU referendum. Polls are suggesting the In campaign are clearly ahead.
I believe there is every chance in the next 4 weeks GBPAUD will fall back into the 1.90s. My reason for this it seems the UK Government (Tory party) are clearly divided and this is going to put pressure on the Pound.
Former Mayor of London Boris Johnson has been criticising David Cameron last manifesto, in regards to the promises he has made about immigration. According to the Office for National statistics the difference between the number of people coming to the UK for at least a year and those leaving, rose to 333,000 in 2015. The Governments target was below 100,000.
David Cameron response to the Former Mayor of London has been to acknowledge that immigration needs to be tackled however he believes the out campaign are trying to get away from the fact that a ‘Brexit’ according to 9 in 10 economists will have a major negative impact on the UK economy.
For people reading this website for the first time the currency company I work for enables me to achieve clients up to 5% better exchange rates than the high street banks and other brokerages when buying or selling Australian Dollars.
I specialise in property purchases and sales. Therefore if you are buying or selling a property this year and want to save money by achieving the best possible exchange rates but also want help in timing your transfer, get in touch by emailing me on [email protected].
If you are already using a brokerage and have stumbled across this article because you are simply looking for information in regards to the currency market, I want to help you save as money compared to the brokerage you are already using. For a comparison email me with the exact figures and the currency pair and I will email you with our live buying price.
Alternatively if you would like to discuss your requirements over the phone call me Tuesday morning on 01494-787478 and ask to be put through to Dayle Littlejohn.