Getting the best exchange rate can be achieved by understanding what is driving rates and the service of a specialist currency broker. Below are movements in just a week affecting the amount in AUD you would have achieved when buying £200,000:

Currency Pair% ChangeDifference on £200,000
GBP/AUD2.59%$8500
Could Sterling continue to rise vs AUD?

The Australian dollar continues its impressive run of form

The Australian dollar seems to have entered new highs against most major currencies of late follow a very upbeat assessment of the economy. The Reserve Bank of Australia minutes from the July meeting pointed towards a very strong workforce with wages to match of late and are fairly optimistic that this will continue for some time.

At present the RBA is not in a position to raise interest rates due to a housing market bubble. However, the RBA will look at raising interest rates soon in line with a positive global economic outlook. Most of the value of the Australian Dollar is linked to the value of its commodities; Australian Iron ore, gas and coal. As China’s economy grows so does demand for the Australian Dollar.

When should I buy/sell my Australian Dollars?

Personally, I think that the time to sell your Australian Dollars may have been last week. There are a range of reasons that support the fact that Australia’s economy will go from strength to strength in the coming weeks/months. Investors are currently receiving higher yields from government bonds and seem to be the hot investment of late following a turn away from investing in American bonds following the trouble with Trump and his inability to get things done.

Combine this with an extremely strong economy down under, and it paints a pretty perfect picture for investors to place their funds in the AUD and watch the returns go up. It has been rumoured that the RBA are in a position to raise interest rates 6 times over the course of the next 3 years. If selling Australian Dollars, I’d be in contact with your account manager here so that I could be alerted to events outside of Australia that could potentially strengthen the foreign currency because personally, I don’t see the AUD loosing value anytime soon.

Thank you for reading my Australian Dollar report, if you have any questions about an upcoming exchange I would be more than happy to discuss them – you can contact me with any queries 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.