Overnight the Reserve Bank of Australia confirmed they are not looking at any future cuts for the time being having been satisfied at the way the economy is improving. The outlook for the Australian economy has improved dramatically in the last few weeks with rising GDP and falling Unemployment. The improvements in the figures have really helped change the forecasting on the Australian dollar with many analysts suspecting only a few weeks ago we were highly likely to see a cut before August.
With so much uncertainty ahead for the UK and the pound the GBPAUD rate seems like it will really struggle as we approach the Referendum before possibly rising much higher over 2 following a Remain vote. The main focus is on the Brexit now and this uncertain event will present opportunities for both buyers and sellers. If you have any transfers to buy or sell Australian dollars the next few weeks ahead and after the Referendum could provide some very good levels for those who are prepared.
For more information at no cost or obligation please speak to me Jonathan Watson about all the options available and what you can do to limit your exposure in such uncertain times. Please email me on [email protected]