This AUD report will address the factors that are likely to affect exchange rates today if you are buying abroad or making a currency transfer. The table below shows the difference in AUD you would have achieved when buying £200,000 during the high and low points of the past month.

Currency Pair% ChangeDifference on £200,000
GBP/AUD2.6%AUD $8,760
Will GBPAUD hold above 1.80?

Where next for GBP/AUD exchange rates?

GBP/AUD rates are trading around 1.65, with a move back towards 1.70 unlikely over the coming days in my opinion.

Despite some negative comments over the weekend regarding a 1-million-dollar anti-immigration advert, the AUD continues to find support against a weakening Pound.

Whilst some are concerned about the rising levels of immigration in Australia, it is unlikely to hit the AUD value too hard whilst so much negativity continues to surround the UK.

What investors will be looking towards though is any developments between the US & North Korea.

This is likely to drive global currencies and commodity based assets such as the AUD, could be amongst the hardest hit. Global fear generally means investors will start to pull funds away from riskier, potentially higher yielding currencies such, as the AUD and return them to safer havens such as the CHF or historically the USD.

This means that the AUD could be inadvertently weakened by any increase in the rhetoric surrounding the Korean Peninsula, so clients may wish to consider this ahead of any AUD currency exchanges this week.

Whilst the recent economic data emanating from Australia has been fairly strong, I doubt we will see a move towards 1.60 whilst the current global unrest remains.

Key economic data releases this week

Looking at the week ahead and its fairly quiet for Australian economic data releases.

Tomorrow we have new motor vehicle sales, followed by some inflation data overnight on Wednesday.

However, Thursday is likely to hold the most weight with investors when the latest employment figures are released. The official rate is expected to be 5.6% and this will likely be priced into GBP/AUD exchange rates over the coming days.

Thank you for reading my Australian Dollar report, if you have any questions about an upcoming transfer please feel free to get in touch and discuss your options here.

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Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.