Since the UK public decided to vote out of the EU GBPAUD exchange rates have dropped an incredible 36 cents and I believe this trend is going to continue.
To put this into monetary value if you are purchasing 200,000 Australian dollars now compared to June 23rd your transfer is now £23,000 more expensive. However it’s important to not procrastinate as exchange rates could get worse!
UK Prime Minister Theresa May has announced that she will be invoking Article50 in March 2017 which has been the main reason why the pound has lost value throughout this month.
Looking ahead a major talking point in the upcoming weeks is going to be will Scotland hold a 2nd referendum in regards to remaining part of the UK. SNP leader Nicola Sturgeon has announced she wants the Scottish people to be able to decide there own fate going forward.
If Scotland were to leave the UK they could then decide if they remain part of the EU. This story I believe is going to put further pressure on the pound and exchange rates will consequently fall further.
If you are trading GBPAUD this week, month or year I would recommend emailing me with the the reason for the transfer (company goods, property purchase) and your timescales and I will response with the options available to you [email protected]. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **