The Pound to Australian Dollar exchange rate improved by roughly around 10 cents through November, making a substantial Sterling to Aussie Dollar transfer considerably more attractive.
The gains have been unexpected as most analysts have been suggesting the Pound is likely to decline as we approach the end of 2016 and enter the new year, especially as the ‘Brexit’ process is expected to begin in the early months of next year.
Donald Trumps unexpected victory in the US presidential election has boosted sentiment towards the UK economy due to his interests here and warm words over the past year, and the Brexit process may be delayed due to a High Court ruling meaning that the Brexit process cannot officially begin without parliamentary approval.
Both key events occurred through November and have resulted in a boost to Sterling’s value. The Aussie Dollar is also coming under pressure as the likelihood of a US interest rate hike by the Fed Reserve is looking very likely which could weigh on the Aussie Dollars value.
As a specialist currency exchange brokerage we’re able to offer our clients exchange rates that are much closer to the inter-bank rate than the typical high street bank, therefore through us you wouldn’t need the GBP/AUD inter-bank level to move much higher than 1.70 before you can actually trade at that level.
We also offer a number of different options, for example we can place automatic orders into our systems which can help our clients achieve their target exchange rates without having to stare at the screen all day.
If you are planning to make a currency exchange involving the Pound and another foreign currency, it’s well be worth your time getting in contact with me on [email protected] in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.