Last week both the Reserve Bank of Australia and the Bank of England cut interest rates by 0.25%. The RBA’s decision was earlier in the week and you would have thought the pound would have made substantial gains against the Australian Dollar however this was not the case.
48 hours later when the Bank of England cut their rate exchange rates tumbled and I believe it just shows, investor confidence in the UK is low and theres a good chance for the foreseeable future the pound is going to come under severe pressure.
Looking ahead this week the UK are set to release their latest Trade balance, industrial production and manufacturing production numbers Tuesday morning. I wouldn’t be surprised to see a decline and for that reason I believe GBPAUD will fall below 1.70 for the first time in many years.
As for Australia Governor Glenn Stevens is set to give a press conference early Wednesday morning. He will be questioned about the economy and if further cuts are on the horizon for Australia. If the Governor takes a dovish tone (as I expect) this could cause a spike for Australian dollar buyers.
If you have a currency exchange to make involving the Australian dollar, it makes sense to explore all of your options. Here at Australian Dollar Forecast we understand every client’s situation is different, therefore we devise a strategy that meets your needs and requirements.
As for exchange rates we can beat any UK brokerage or bank. The clients I deal with are high net individuals, businesses and property buyers / sellers that are trading 10,000 Australian dollars to the multi millions.
Feel free to email me with the reason for your transfer (transfer of wages, property purchase) the currency pair (AUDGBP, AUDUSD, AUDUSD) and I will respond with my forecast and the process of using our company [email protected].
For new clients we are a UK based company and I look forward to speaking with you tomorrow morning.