If you’re moving to Australia or thinking about sending money from Australia to the UK then the chances are that you’ve been reading this site for quite some time. However, if you haven’t come across us before then welcome and I hope you find the following information useful.
Sterling has had a torrid time vs the Australian Dollar since the Brexit vote and the Pound has fallen by over 30 cents since the recent highs just one month ago.
However, since the new Prime Minister Theresa May has taken over this has helped the Pound to recover vs the Australian Dollar.
Politically the UK was in a state of flux following the Brexit vote when David Cameron announced his resignation.
Following the news there was due to be a leadership battle which was going to last for 9 weeks but with Andrea Leadsom withdrawing herself earlier on than expected this settled the UK and therefore Sterling saw some gains against all major currencies including against the Australian Dollar.
One of the biggest factors in determining how the Australian Dollar performs is when important data is released in the US. This often impacts the value of the AUD as it will determine global risk appetite.
Tomorrow afternoon the US announce GDP data for the second quarter of 2016 and any signs of positive growth could strengthen the Australian Dollar against Sterling but if the data comes out lower than the expectation then we could see the AUD weakening against the Pound providing a good opportunity to buy Australian Dollars with Sterling.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]
I look forward to hearing from you.