The Pound has maintained its positive run recently against the Australian Dollar hitting levels of 1.83 on the mid-market creating the best rate to buy Australian Dollars with Pounds since the EU referendum back in June 2016.
The US have again raised interest rates are now they have surpassed the rate in Australia which has caused global investors to sell the Australian Dollar and move funds into the US.
The American economy has been going from strength to strength recently and with the Federal Reserve likely to continue on their path of raising interest rates this year I think we could see further weakening of the Australian Dollar.
The Reserve Bank of Australia are unlikely to be raising interest rates in the near future as the Australian economy is showing signs of a slowdown and with the trade wars between the US and China this could cause further problems for the Aussie Dollar.
The reasoning is that as China is such a major trading partner with Australia any problems with the economy in China can often have a negative effect on the value of the Australian Dollar.
The ongoing trade wars between the US and China have also destabilised the currency markets and this has again caused global investors to move money away from riskier commodity based currencies such as the Australian Dollar.
I think we could see further weakness ahead for the Australian Dollar. We have already seen the Pound remain above 1.80 for a sustained period of time and if the tone of Brexit remains positive I think we could see a strong end to this month for the Pound vs the Australian Dollar.
Having worked for one of the UK’s longest established currency brokers since 2003 I am confident of being able to offer you bank beating exchange rates as well as helping you with the timing of your currency transfer when exchanging Australian Dollars
For a free quote please send me an email directly and I look forward to hearing from you.
Tom Holian [email protected]