Will GBP/AUD breach 1.70 soon? Sterling back in fashion? (Daniel Wright)

Increase in Risk Appetite Helps Support the Australian Dollar

We deal with a lot of clients moving money to and from Australia and many that have had to move money into Australian Dollars have had a tough time of things since the referendum in the U.K.

Recently we have seen the pound start to stage a fight back following the victory for Donald Trump and the riskier currencies starting to take a slight turn for the worse.

On top of this, economic data in the U.K has not exactly been anywhere near as bad as the main economists had thought that we may see and the chance of article 50 and the start of official ‘brexit’ negotiations may well be being pushed back.

We do not have a great deal of economic data out for the rest of the week for Australian Dollar followers, however, with Thanksgiving day on Thursday trading levels will be thinner on the ground so this can lead to volatile swings in the market.

Going back to the title of this post I personally feel that we may see GBP/AUD move back above the 1.70 mark in the near term as the tide appears to be turning in favour of Sterling.

If you are in the position that you may need to buy or sell Australian Dollars in the coming days, weeks or months then it is well worth you getting in contact with me directly, I have been getting clients much better rates than well known Australian based online platforms and can save you money over the banks and other brokers. We typically help clients with exchanges over 20,000 Australian Dollars and try and help both with the timing of the transfer along with getting you market leading rates when you do decide to book your currency.

Feel free to contact me (Daniel Wright) if you are in this position and require my assistance. You can email me directly on djw@currencies.co.uk and i will be more than happy to get in touch personally.