The Pound has had a fairly good year vs the Australian Dollar getting close to hitting 1.80 on a number of occasions towards the end of the year.
The commodity based currencies including the AUD, NZD and ZAR have all weakened generally during 2017 owing to the global slowdown.
Owing to the ongoing Brexit saga the Pound has had an indifferent year against both the Euro and the US Dollar but has sustained its strength against the Australian Dollar.
However, what has become apparent is that Australia could soon lag behind the interest rates set out by the US which could cause a lot of global investors to shy away from the Aussie Dollar next year giving the Pound some support.
The Australian Dollar is also heavily reliant on what happens in China and with the value of iron ore having moved a huge amount during the last few weeks both up and down this has caused a lot of volatility for GBPAUD exchange rates.
I think one of the biggest factors influencing GBPAUD rates is that of Brexit so 2018 could be the defining year as to whether we see the Pound getting back to its recent highs vs the Australian Dollar.
In the short term on Wednesday the latest Commodity Index is due for release which measures the values of commodity prices which is an important factor in the value of the Australian Dollar as they are such a large exporter as natural resources.
Therefore, if you’ve got a short term currency transfer to make then keep a close eye out on what happens early Wednesday morning.
If you have a currency requirement to make during 2018 and would like to save money when buying or selling Australian Dollars compared to using your own bank then contact me directly for a free quote.
Having worked for one of the UK’s leading currency brokers since 2003 I am confident of being able to save you money when making a currency transfer.
For further information or a free quote contact me directly Tom Holian [email protected] and I look forward to hearing from you.
Happy New Year and thanks for reading!