There are several key factors that are currently influencing the value of GBP/AUD. The main factor would be Brexit. The high court ruling as to whether the government will vote on the triggering of article 50 is due to finish in early January. This will give a clear indication s to whether
the UK’s exit from the EU will be a hard or soft or hard brexit. A hard brexit will surely cause significant pound weakness. I personally feel that a soft brexit is the more likely and the more sensible.
The recent US interest rate hike has seen the Australian Dollar become a less attractive destination for investors. The US dollar is considered as a safe haven investment and now with the promise of higher returns it is becoming the investors choice. It is also predicted there could be as many as three more hikes in the US by the end of 2017. Australian economic data is also not coming through as positive as it has been and Chinese growth is dwindling.
If you have a currency requirement it is crucial to be in touch with an experienced broker. The timing of your trade is vital during such volatile times, If you have an experienced broker on board he/she can keep you up to date with what is happening in the market to help you make an informed decision. Should you find our information useful and you would like me to assist with your trade I will be happy to help you personally. If you inform me of the the currency pair you are trading, volume and time scale and I will provide a free trading strategy to suit your needs. I work for one of the top brokerages in the country and as such I am in a position to better virtually every competitors rate of exchange. You would also be looking at saving anything up to 4% in comparison to high street banks. Please do get in touch by contacting me at [email protected]. Thank you for reading my blog.