Will the GBPAUD rate now hit 1.70?

AUD GBP Trades Above 0.5300 Ahead of Consumer Confidence

GBPAUD rates are now looking much improved for AUD buyers following the changes in sentiment on the pound. Who would have thought that Donald Trump would have affected markets so much? Future changes on the exchange rate will potentially be determined by developments in the US notably depending on how the ‘Trump effect’ continues to influence markets. The Trump effect has seen sterling rise and stoked fears on the Aussie as it becomes apparent the US might raise interest rates rates in the future.

If the US raise their interest rate this will lead to the Aussie weakening as investors move their funds from AUD into the percieved to be stronger US dollar. This could see GBPAUD rising towards and perhaps hitting over 1.70 in the coming weeks and months. If you are buying AUD with the pound this is a much welcomed improvement that should not be dismissed too readily. Waiting and watching markets can sometimes prove very costly.

If you need to make a transfer then understanding the market and all of your options well in advance is a sure method to ensure you have an advantage. If you have a transfer to make why not get in touch with our specialist team who can help you to understand how you can achieve the best exchange rates.

For more information at no cost or obligation please speak to me Jonathan Watson by emailing [email protected] or please fill  in the form below.

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