Sterling had a poor day yesterday against a number of major currencies following weaker than forecast inflation data, however it was too see a significant recovery against the AUD as the dollar weakened following weaker than expected wage figures. Average earnings in Australia only rose 0.5% in September, disappointing investors who had hoped for a figure of 0.7%
This yo yo effect for the GBP/AUD is continuing and again these levels may not hang around for long. In the last 6 weeks we have seen the pound range anywhere between 1.66 and 1.7370 – a difference of 4.5%. Fortunately for buyers we are at the top end of this market, so maybe a time to cash in?
How to get the best deal on my currency?
When looking for the best exchange rate it is important to utilise the service of a specialist foreign exchange broker to maximise your money exchange. Specialists can make significant savings when compared to the high street banks, often achieving rates 2-3% better. When moving a significant amount of money this makes a huge difference to your transfer and it is this, combined with our market knowledge, that makes our services often invaluable.
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