For clients holding onto Pounds waiting to buy Australian Dollars the spike we have seen in the last 3 weeks in my opinion is well worth taken advantage of. An AUD400,000 purchase is now over £13,000 cheaper than 3 weeks ago.
Only 4 weeks ago many market analysts were predicted GBPAUD would break into the high 1.70s due to the volatility surrounding the Pound and the EU referendum.
This fear hasn’t gone away however in recent weeks we have seen significant Australian Dollar weakness. Inflation levels have been plummeting which led the RBA to cut interest rates by 0.25% to 1.75%.
There is a chance we could see GBPAUD reach the higher 1.90s in the upcoming week or two however its only a matter of time until the EU referendum campaign is in full swing and therefore Sterling exchange rates fall.
If you are buying or selling Australian Dollars I would recommend getting in touch to put a strategy in place which will maximise your returns. In order to protect you against market fluctuations we have different contract options available that will meet your needs and requirements.
In addition if you have a currency transfer that is imminent and you want to save money on exchange rates compared to using your own bank or the brokerage you already use then contact me directly for a free quote. Dayle Littlejohn [email protected]. Alternatively if you would prefer to call me +0044(0)1494 787 478 and ask for Dayle Littlejohn.
For a free quote please provide as much information as possible:
- Currency Pair
- Reason for the transfer
- Best number to contact you on