Sterling hits a 13 month high against the Australian Dollar

Sterling exchange rates have rallied overnight to reach a 13 month high against the Australian Dollar (AUD). The move has been even more significant against the New Zealand Dollar (NZD) with the pound now sitting at its highest level since August 2016.

Sterling has now gained over 5% against both these currencies in a relatively short window creating some strong buying opportunities.

These gains have come following yesterdays announcement that the UK divorce settlement for Brexit could be as much as £50bn, considerably higher than figures of £18bn discussed earlier this year.

Although the Prime Minister Theresa May downplayed these figures it was a much needed shot in the arm for the pound which also reached a two month against the US dollar.

Should you need to make an international money exchange and you would like to take advantage of the recent spike for the pound then please get in touch. As a specialist foreign exchange broker we have multiple contracts available to help clients safeguard their currency and avoid costly market fluctuations.

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