Last week Donald Trump shocked the world and the financial markets by winning the race to the White House and becoming President of the United States of America. The Greenback initially dropped in value however has soared their after. Speculators have flocked away from commodity currencies including the Australian dollar. Furthermore fresh concerns about China’s finances have surfaced which has contributed to the sell off of Australian dollars.
As for the UK the pound has strengthened due to Trumps appointment. A free trade deal between the UK and US has become more likely which could tie in with the UK’s departure of leaving the single market. In addition Donald Trumps appointment is in the spotlight and pressure is off the UKs Brexit. However overtime I expect Brexit to be the main topic of concern for the UK, therefore the pound should lose the gains seen in recent days.
For clients buying Australian dollars in the upcoming weeks should think about devising a strategy. The direction of exchange rates can change very quickly and I wouldn’t be surprised to see sudden falls off the back of negative Brexit news. If you are reading this website for the first time and would like to become a client of ours the process is simple.
Feel free to email me on [email protected] (Dayle Littlejohn) with the reason for the transfer and the timescales you are working to, and I will respond with a strategy outlining your options. Furthermore we can discuss that strategy over the phone so you aware of potential scenarios that will impact the exchange rate you receive.
The type of clients I deal with on a day to day basis are high net individuals, property buyers/ sellers and business owners. In addition if you are already using a brokerage feel free to email me and we can compare exchange rates to make sure you are receiving the best rates possible [email protected].
I look forward to assisting you with your currency transfer!