GBPAUD within the last 2 months has been up and down like a roller-coaster and has fluctuated over 20 cents!
The EU referendum has been the main talking point and opinion polls have dictated the strength of the pound. If the polls are edging towards a remain vote the pound has strengthened, where as a leave vote weakens the pound. Recent polls are suggesting the UK will remain part of the EU and that’s why the pound has made over 2 and 1/2 cents against the Australian Dollar.
As for the Australian economy inflation plummeted 3 months ago which led to an interest rate cut which significantly weakened the Australian Dollar. However the latest minutes released early this morning suggested no further cuts are on the horizon, which is good news for the Australian economy.
Depending on the outcome of Thursdays nights decision I believe GBPAUD will either by in the 1.70s or 2s.
If you are buying or selling Australian Dollars in the foreseeable future I can help. The company I work for enables me to achieve clients up to 5% better exchange rates than high street banks and other brokerages.
I specialise in the property market, 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 quite want to compare exchange rates, email me with the amounts and the reference QUOTE and I will respond with our live buy price **