The Pound has made some small gains vs the Australian Dollar towards the end of the week creating some good short term opportunities for anyone looking to buy Australian Dollars with Pounds.
As we go into next week however things could be very different on Tuesday morning when the UK announces its latest set of inflation data.
Expectations are for a rate of 2.8% for August so anything different is likely to cause a lot of volatility for the GBPAUD exchange rate.
The UK economy has been suffering with rising inflation and at the moment the Bank of England appears to be stuck as to what to do with interest rates.
The most recent rumours are that the central bank will not change interest rates until 2019 which has caused problems for the UK and therefore Sterling.
The Brexit talks continue to also weigh heavily on Sterling exchange rates and as yet there has been no clear direction as to how the talks will go.
At the moment the Tories and Labour party are split as to how to take things forward so if we cannot agree between ourselves it will be difficult to see how things can progress with Europe.
Therefore, I think the Pound will continue to struggle against the Australian Dollar going forward.
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.