Aussie Dollar buyers have enjoyed huge gains for GBPAUD recently, exchange rates have now passed the 2.0 point.
Yesterday, Sterling’s gains were significant, the UK referendum will continue to have a very large impact on currency market movement. The Australian dollar also weakened giving a ‘perfect storm’ for anyone with Australian dollars to buy. They showed an unexpected weakening in the Wage Cost Index, which raised concerns over the outlook of the domestic economy.
Buying the Australian Dollar got over 1.5% cheaper on Wednesday giving you an extra $7,250 more on a £200,000 purchase. GBPAUD rates returned over 2.0 for periods, the highest levels that we have seen for over a three months.
Buying AUD has become over 7.5% cheaper compared to 30 days ago, giving you $15,000 more on every £100,000 purchase.
This morning the unemployment data was released in Australia and showed further concerning data. The overall rate of unemployment went down to 5.7%, it was Employment change that widened to 10.8 thousand which points towards more issues in the job market in Australia. This has further weakened the AUD hopefully allowing clients to trade with central levels over 2.0.
Rates this morning are over 2.02 and the best levels we have seen buying the Australian dollar for nearly 3 months.
If you're looking to buy Aussie Dollars, the perfect window of opportunity is currently available to you, speak to one of brokers today on 01494 725 353 or email firstname.lastname@example.org and we will be happy to assist you.
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