The Pound has fallen from its recent highs vs the Australian Dollar after Theresa May’s speech in Florence on Friday afternoon did little to help the Pound.
There were no real surprises in the speech but it has led to more questions surrounding the issue of Brexit and what it means for the long term future of the UK.
Clearly the Pound has felt the negative effects caused by the uncertainty as to how our relationship with the rest of Europe will look in the future and as yet we are no closer to some form of resolution.
Therefore, this is why we saw the Pound fall below 1.70 against the Australian Dollar.
As we go into next week however we could potentially see the Pound make a fight back vs the Australian Dollar.
The latest set of UK Inflation Report Hearings are due on Tuesday morning and with inflation haven risen to a 5 year high recently this has put pressure on the Bank of England to consider raising interest rates sooner than the markets may expect.
The recent inflation rates caused the Pound to make gains vs the Australian Dollar earlier this month so this is why I think we could see the Pound making a recovery against the Aussie Dollar by the middle of the week.
If you have a currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency.
A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will endeavour to get back to you as soon as I can.