Are you concerned with the outcome of the EU Referendum? Although the latest polls suggest the remain have taken the lead and the bookmakers have their odds on a remain at 70%, polls are not always right and the same can ring true for the bookmakers. The Pound continues to climb which to me signals investor confidence, but could they be wrong?
Yes, it is true, the bookmakers had it right about the Scottish Referendum, but during the General election last year they tightened their odds of a Conservative victory towards the end.
The market, despite heavy confidence in a remain vote, have not always got it right either, we only need to look at the recession to realise that unexpected events do occur.
But what do we actually know so far? The polls are tight, as of 14:00, remain appear to be ahead by 2 points which from a statistical perspective, is marginal.
So if you’re worried about the outcome tomorrow, take a look at current GBPAUD exchange rates and decide whether now could be a good opportunity to buy Aussie Dollars.
GBPAUD is trading at 1.96, and has been flirting with the 2.0 mark during the run up to the EU Referendum, prior to last year and during the early stages of the current year, rates have not been this attractive since 2009.
In the event of a Brexit, GBPAUD rates could fall into the 1.80’s again, prior to April of this year, rates were not this low since the beginning of January 2015.
If you’re seriously considering a currency exchange and have concerns about the outcome of today’s Referendum, email [email protected] and I will be more than happy to assist you further.