With the upcoming Australian Election, will GBPAUD rates head back towards the 2 mark?

GBP/AUD at worst rate in a while but will it improve?

For anyone looking to emigrate over to Australia in the near future, these current trading levels may have made the decision and the move that little bit tougher to take on than it had been a week ago. On the flip side of that, those that have returned and have savings in Australia have seen a fantastic chance to bring back their Australian Dollars and start to earn little to no interest on their savings again. One of the key reasons that we may only see these current exchange rates for a short period of time is that we have an election due over in Australia on July 2nd.

The polls are still showing that the result of this is extremely close so we may end up seeing Australia having political uncertainty of their own in the coming days.

China too quiet for too long?

We also need to recall that China has been extremely quiet of late, it was only at the turn of the year that there were huge concerns over the Chinese economy and the Chinese stock market dropped like a stone. These problems have not fully gone away, and with Chinese economic data having such a huge impact on the value of the Australian Dollar exchange rate there is still room for rates to head back towards 2 should we hear bad news again.

There is very little in terms of economic data out for Australia or China this week so the focus will be on Brexit fall out for the pound and the election for the Australian Dollar so if you would like to be kept fully up to date with the action then feel free to contact us today.

Do you have Australian Dollars and would like to buy Sterling? Now could be a good opportunity to make a transfer. Call our trading floor on 01494 725 353 and speak to one of our brokers today!

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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.