Australian Dollar exchange rates have continued to make gains against Sterling this week as fears continue to grow in the U.K about the potential of a hard ‘brexit’ being the route that the Government will aim to take in negotiations once article 50 is triggered.
For those who are not aware, the U.K is going through a huge change at present and currently awaiting a Supreme Court hearing to decide what the next steps for that change may be.
We expect to see a decision in the coming days and should the Supreme Court stick with the original decision them Prime Minister Theresa May will have to put the decision to trigger Article 50 through Parliament, which may give the Pound a boost as it should lead to a higher chance of a ‘softer’ brexit.
Should the Supreme Court overturn the ruling about Parliament then we may see Sterling drop further as this heightens the chance of a harder brexit which would more than likely include leaving the single market and may lead to a number of problems further down the line for U.K trade.
All of this is causing a great deal of uncertainty and is casting a grey cloud over the Pound which is presenting a fantastic opportunity for those looking to sell Australian Dollars and buy Sterling.
If you are in this position then it may be prudent to start to consider your options, as although there are expectations that the Pound may fall a little further in the coming weeks, depending on the decision, I feel that later down the line Sterling exchange rates will climbe back as we start to see a little more certainty on just what may happen.
For assistance with any currency exchange it is essential that you have a proactive and efficient currency broker on your side. If you are in the position where you need to buy or sell Australian Dollars and you want to be kept fully up to speed with the market and to have any potential opportunities highlighted to you then let us be your eyes and ears on the markets.
You can email me (Daniel Wright) directly on [email protected] with a description of what you are looking to do and I will be more than happy to contact you personally and explain just how I can help both with the timing of your purchase and making sure you get commercial rates of exchange too. I look forward to hearing from you.