In a similar situation to the movements we saw shortly after the European debt crisis a number of years ago we have seen Sterling consistently drop against the Australian Dollar in recent weeks, with very little for the Pound to cling on to and news from Australia and China not being too bad.
The Pound has dropped off due to uncertainty regarding the pending Brexit, slightly worse than expected economic data and even a row over the price of marmite and tea bags believe it or not.
Chinese inflation data overnight gave the Australian Dollar a boost and we ask the question now is this the time to exchange your Australian Dollars back into Sterling? Sure enough you may be receiving a little more interest for the funds over in Australia, however you are earning less over the course of a year than the exchange rate can move in a day so it is the rate that is most important.
From roughly this time last year an exchange of AUD 1,000,000 into GBP would gain you an extra £162,000 and even since the referendum in the U.K it would gain you an extra £104,000 for your money which is certainly not an opportunity that I would want to miss.
Of course there is the chance that rates may get a little better but at some point I would expect the Pound to drag itself off of the floor, dust itself off and to start fighting back so it would be sensible to at least look to secure a portion of your money now if not all of it as when GBP/AUD moves it can move rapidly.
If you have AUD to sell or even wish to buy AUD with GBP then it would be sensible to contact me directly as I can help you. I have helped thousands of clients over the years in your position and even those that thought they had a good broker found out they could save money and get a better service after contacting me. You can email me (Daniel Wright) on [email protected] and I will be more than happy to contact you personally.