The Pound to Australian Dollar buying rate is continuing to hover around the 1.73 mark at the mid-market level.
Whilst there have been some short term moves away from this level the pairs movements have been relatively tame for the last few weeks, which is quite a change considering how the pair has moved over the past couple of years.
Since the Brexit vote and the fall in the Pounds value due to the shock of the referendum outcome, the pair have remained range-bound between 1.5950 and 1.7950. With the pair currently trading quite comfortably above 1.70 I think it’s fair to say that the Pound is closer to the top end of its 18-month trend as opposed to the bottom, and those planning on converting Pounds into Aussie Dollars should consider this.
Sentiment surround the Australian economy has been buoyed today after Australian Consumer Confidence figures came out better than expected in the early hours of this morning.
This is the best level since the end of 2013 and if economic data releases and gauges down under continue to impress we could see the Aussie strengthen and push the GBP/AUD rate back below 1.70.
If you’re following the pair and would like to be kept updated should there be a big move for the pair, do feel free to register your interest with me.
If you have a large 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 (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.