Overnight the Aussie dollar weakend against the pound as retail sales came in lower than expected at 0.2% compared to the forecast 0.3%. Interest rates were also held at 4.25% as expected resulting in a drop of just over half a cent. Current rates sit in the 1.54′s with 1.55 being the next key resistance point to breach.
Trade balance is the next key release “down under” and a poor figure could be the one to push the dollar over that 1.55 mark. Following that we have a raft of UK data on Thursday. I feel with the pressure on the dollar from China and there own economy I think we will hit that 1.55 by the end of the week.
Those looking to bring Australian dollars back to the UK might consider trading sooner rather than later as generally the feeling is for a weaker dollar going forward. Those looking to buy, keep in touch to make sure you get the best possible rate for GBP/AUD. As mentioned we have a few data releases coming up which could provide opportunities for buying at best rates this year but of course the markets are unpredictable and can change quickly. Don’t miss out, contact me directly if you would like to be kept informed of rate movements at email@example.com
Good morning readers,
We come in this morning to see GBP/NZD exchange rates 2 cents better off for buying following the weaker than expected GDP figures. The last quarter figure was due to show 0.6% growth but in fact was half that at 0.3%. The immediate sell off on the Kiwi dollar is giving the best buying rates since the start of the year.
Some analysts feel the recent sell-off of the Kiwi (and other commodity dollars) helped by uncertainty in China may well be overdone so if you do have a requirement for buying New Zealand Dollars or Australian Dollars in the coming weeks it may be worth looking at fixing your rate soon. Keep in touch with the experts at Currency Index as to the options available and for regular updates on rate changes.