The rate to buy Australian Dollars with Sterling has hit its highest level since January as fears are increasing that the Chinese are showing signs of a slowdown.
This has caused the commodity based currencies including the Australian Dollar, New Zealand Dollar and South African Rand to weaken against the Pound creating some excellent opportunities to buy Australian Dollars with Sterling.
There is a lot of economic data coming out overnight from China including Imports, Exports and Trade Balance data which have shown signs of slowing down.
Also, overnight we have the release of Australian unemployment figures so if both data sets are negative we could see the Pound make even further gains against the Aussie Dollar.
Furthermore, with political tensions increasing in the Middle East this has caused a concern to global investors who have been selling off the Australian Dollar in favour of safe haven currencies including the US Dollar and Swiss Franc.
If tensions continue to rise I would expect the AUD to suffer vs the Pound so if you need to make a transfer to Australia then it would be worth keeping a close eye on what is happening politically.
Having worked in the foreign exchange industry since 2003 for one of the UK’s leading currency brokers I am confident not only of being able to offer you bank beating exchange rates but also help you with various contract types.
If you would like a free quote when buying or selling Australian Dollars then contact me directly and I look forward to hearing from you.
Tom Holian [email protected]