As predicted in my previous articles the Pound has shaken off the problems against the Australian Dollar following last week’s interest rate decision which saw the GBPAUD exchange rate move in a downwards direction.
The UK economy has proved once again that it is resilient even though politically we are facing the challenge of the ongoing Brexit uncertainty.
GBPAUD exchange rates are once again moving in the right direction breaking through 1.72 on a couple of occasions already this week.
The Brexit talks appear to be moving in the right direction with Theresa May and Michel Barnier both suggesting that behind the scenes progress is being made.
The real issue surrounding Brexit is what the divorce bill will cost and when it will be paid which is one of the sticking points of the discussions.
We have a very eventful week ahead with the release of a number of different economic data due over the next few days.
UK Inflation is due out on Tuesday and this has been a big factor in the recent decision by the Bank of England to raise interest rates earlier this month. Therefore, this could also cause a lot of volatility for GBPAUD exchange rates.
Also, next week is the release of UK unemployment data and with the jobs data performing very well during 2017 I think we could see GBPAUD rates improve by the middle of next week which could provide a good opportunity to look at buying Australian Dollars with Pounds.
If you have a need to make a currency transfer in the coming days, weeks or months then feel free 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 compared to your bank or another currency broker.
Even a small improvement in the exchange rates can make a big difference so feel free to to email me with details of your requirement and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will respond to you as soon as I can.