Currency markets have opened this morning with the Pound continuing it’s recent fightback, yet the Aussie Dollar continues to remain a thorn in the Pounds side as it’s one of the only currencies the Pound is down against this morning.
Those looking to convert Aussie Dollars into Pounds are still looking at 3 year highs, and we’re currently seeing the Pound trade below 1.70 as we have been for some time which is quite unusual for the pair.
Whilst the current situation for Aussie Dollar sellers is positive there are a number of issues over in Australia which could affect the currencies value in future, and Aussie Dollar sellers must be aware of this.
There is the chance of another interest rate cut over in Australia, and the property market is at risk of overheating which could impact sentiment towards the currency, so clients must be aware of the potential downsides despite the strong gains so far this year, particularly since the Brexit vote.
If you are planning a currency exchange involving the Pound and Australian Dollar, it’s worth your time getting in contact with me on [email protected] in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.