Last month the Reserve Bank of Australia decided to cut interest rates from 1.75% to 1.5%. You would have expected to see GBPAUD spike off the back of the news however exchange rates only increased by a cent or two.
The reason why the Australian dollar did not plummet in value is because it was common knowledge that the central bank were going to cut rates. The only question really was were they going to cut by 0.25% or 0.5%.
This weeks decision would surprise many if the RBA decided to make further cuts. However I wouldn’t be surprised if they decide to keep interest rates at 1.5% and indicate further cuts are on the horizon.
Therefore I think after the decision Tuesday morning, this could be the best time to buy Australian dollars with the pound.
The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade Australian dollars at rates better than other brokerages and high street banks.
I would recommend sending an email with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company [email protected]. Alternatively if you would like to discuss your requirements over the phone call 0044 1494-787478 and ask to be put through to Dayle Littlejohn.