The pound has risen to some of the best levels against the Australian dollar since December. These levels are not far from the post Referendum high of 1.7950. If you have a transfer to consider buying or selling the pound against the Australian dollar, then making good plans in advance is wise. This currency pair could easily be over 1.80 in the next few weeks or back towards 1.70.
The pound is really driving the recent improvement as expectations over Brexit solidify, the expectation is now that the UK will be able to get some form of softer Brexit. This week at Davos we have had Angela Merkel and also Philip Hammond talking very positively about the future of Brexit, this has helped the pound to rise.
The Australian dollar could come under much interest in the coming weeks as we have the latest Australian interest rate decision. Tuesday morning 6th February sees the first Australian interest rate decision for the RBA (Reserve Bank of Australia) this year. Expectations are for the RBA to discuss their interest rate plans and some do expect a hike this year.
With the pound bound to come under pressure soon enough from a shift in tone as the reality of Brexit bites back, any clients looking to buy Australian dollars should be tracking these developments very closely. Economic data can cause exchange rates to change suddenly and sometimes by up to 1 or 2 cents. Being able to plan and manage your transfer around such improvements is key to getting the most for your money.
For more information on the latest trends and assistance securing and tracking the very best rates of exchange, please contact myself Jonathan Watson by emailing [email protected].
Thank you for reading and I look forward to hearing from you.