The rollercoaster on GBPAUD rates continues this week with the pound finally bouncing back providing some much needed respite for Australian dollar buyers. If you need to buy or sell Australian dollars then making some plans in advance is sensible to try and ensure you don’t get caught out and can benefit from any spikes in your favour.
The pound has risen because the Bank of England have stated they will not be raising interest rates, everyone had been predicting they would so there has been a real relief rally on the rates helping the pound rise higher. Whereas all the news was very much concentrated on the bad we have finally had some good news for Aussie buyers. Aussie sellers should not be too disheartened, the pound is unlikely to just keep rising but of course as we know the expectations do not always meet with reality. To be honest any Australian dollar sellers should not be getting too greedy having been gifted improvements of over 25 cents in a very short space of time.
If you are considering any currency exchanges involving the Australian dollar the current market is not one to be too complacent in. No one knows exactly what will happen in the future but making plans is sensible to ensure you do not get caught out. If you need to make a transfer in the future we can help plan and manage your exposure to the currency markets by keeping you up to date with developments and highlight various options available to limit your risk. For more information please email me on [email protected]