The most important factor that impacts exchange rates is the countries interest rate. Traders and investors tend to move their assets from currency to currency in order to make profit and presently the Australian dollar looks very attractive.
Below is a list of key central banks and their current interest rates:
Reserve Bank of Australia 1.5%
Bank of England 0.25%
Federal Reserve 0.5%
European Central Bank 0%
With the new Governor of the Reserve Bank of Australia Philip Lowe reluctant to cut interest rates due to potentially making the housing bubble worse in Australia, its not a surprise the Australian dollar has gone from strength to strength recently.
Looking ahead the Reserve Bank of Australia have their latest interest rate decision Tuesday morning and any person looking to purchase the currency should seriously consider making plans this coming Monday.
If you are buying or selling Australian Dollars this week, month or year I would recommend emailing me with the currency pair (AUDUSD, AUDGBP, AUDEUR) and the reason for the transfer (company goods, property purchase) and I will response with my forecast and 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! **