GBPAUD exchange rates have improved as the pound finds favour on the back of an improved outlook for sterling exchange rates and the UK economy. Most analysts now expect the pound to be stronger in the coming weeks and months as investors look to invest their money in a much more stable and potentially profitable currency and country. Most suggestions indicate the UK will no longer be engaging in a hard Brexit which would see the UK sever all ties with the EU including access to the single market. This has helped the pound rise but is it guaranteed?
If you have any currency requirements to buy Australian dollars then you might find it could become more expensive in the future if the Supreme Court decision throws out the government’s case that they will be able to enact Article 50 under Royal Prerogative powers. If the government is allowed to act without parliamentary approval the pound could end up much lower. If the case is upheld then the pound could rise higher but I do feel much of the good news is already priced in.
GBPAUD rates have fallen dramatically but just lately we have had an excellent improvement of almost ten cents presenting some of the best levels to buy the Australian currency in almost 2 months. If you are looking to make any GBPAUD currency transactions in the coming weeks and months then please speak to me Jonathan about the latest news and trends to be kept up to date. For more information please email me Jonathan on [email protected]