Sterling vs the Australian Dollar has begun the year in a negative fashion with the Pound falling against the Aussie Dollar since just before Christmas.
The Pound has been negatively affected by what is happening with regards the Brexit issue and Prime Minister Theresa May has recently spoken out about the topic.
She has suggested that the UK will look to leave the single market if it is not allowed to maintain full control of its borders.
This has caused problems once again for Sterling as the future is still not clear whether we’ll opt for a soft or a hard Brexit which is what has caused so many problems for the Pound exchange rates for the last few months.
Indeed, the Supreme Court verdict should be delivered in the next week or two so once we have some further clarification this could cause further volatility but until we know the verdict it is difficult to say whether or not the Pound will gain or fall vs the Australian Dollar.
Earlier this week both construction and services data for the UK was positive but this did little to help the Pound which highlights the problems that we are facing politically.
Next week UK industrial and manufacturing production data are due out and if the data is worse than expected we could see further losses for Sterling vs the Australian Dollar towards the end of the week.
Having worked in the industry since 2003 I am confident not only of being able to offer you better rates of exchange when buying or selling Australian Dollars compared to using your own bank but also help you with the timing of your transfer.
If you have a currency transfer to make and would like to save money on exchange rates then contact me directly for a free quote and I look forward to hearing from you.
Tom Holian [email protected]