This mornings RBA minutes have concluded some members of the RBA were reluctant to cut interest rates and this is the reason why the Australian Dollar strengthened against all of the major currencies this morning.
However stats also released this morning are suggesting there is an 80% chance further rates cuts could occur as early as August this year and Capital Economics economist for Australia Paul Dales also agrees a rate cut is very likely.
If you are trading GBPAUD, I believe rates will slide back towards the 1.80s come June 23rd, therefore if you need to buy Australian Dollars before the referendum date I would look to trade sooner rather than later. Where as if you are selling Aussies holding off for a few extra weeks could work in your favour.
After the referendum as long as the UK remain part of the EU there is an argument to suggest we could see rates back above 2!
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 on 01494-787478 and ask to be put through to Dayle Littlejohn.