With the EU referendum only 5 days away and GBPAUD falling by the day I wouldn’t be surprised to see GBPAUD in the 1.80s by Thursday. Furthermore after the UK public decide the UKs future in regards to EU membership I expect to see GBPAUD either fall into the 1.70s or rise above 2.
Recent polls are suggesting the out campaign have nudged ahead which is a worry for any client holding onto Sterling to buy Australian Dollars. No doubt the decision this week is going to dictate sterling exchange rates for many years to come.
As for economic data from Australia this week, the RBA are set to release their latest minutes Tuesday morning. It will be interesting to see if the RBA are planning future interest rate cuts. If this is the case expect some Australian dollar weakness.
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@example.com.
** 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 **