This Australian Dollar update examines factors that could affect exchange rates this week. In the table below we have shown the difference in AUD you would have achieved when buying £200,000 at the high and low points yesterday.
|Currency Pair||% Change||Difference on £200,000|
The UK election has seen the Pound to Australian dollar rate fall, hitting lows of 1.6865. With uncertainty over which party will be leading the country and what the impact will be on Brexit negotiations, the fallout from the UK election will continue to dominate Sterling Australian Dollar exchange rates. I firmly believe the movement we have seen since the UK election result is an opportunity well worth taking advantage of for Aussie sellers buying the pound.
With the market now digesting the fallout from the UK election, markets will be eagerly awaiting the next set of economic data for the Australian economy.
Next week Australian Unemployment and the US interest rate decision will be the big events to watch with both possible to have a large impact on the Australian Dollar.
If you need to make an Australian Dollar transfer speak with your dedicated currency broker here at Foreign Currency Direct. They will be able to discuss with you all of the options available to you as well as keep you informed of the latest developments in both the UK and Australia and the impact on the exchange rates.
For more information on how future data releases could affect your AUD requirement, call our trading floor on 01494 725 353 or email me here.