Sterling against Australian Dollar – will it recover??
Below are some recent comments from a regular reader of this site that emailed me directly… I think he raises some great points therefore thought I should publish them on this site!
Thank you Stuart Matter - anyone is always welcome to contact me directly with your thoughts!
I wonder if you know of any major currency exchange that has fared worse than the GBP v AUS which is now hovering just above $A1.60.
“The way I see it, I’m fearful of the pound EVER recovering against the Aussie dollar.”
1. The British econony is inherently weak with very few natural resources and a reliance on a service sector that doesn’t actually perform that well or that efficiently.
2. The Australian economy is flush with natural resources, fuelled by massive interest from a China boom that doesn’t look like abating for many many years.
3. The Aus economy escaped the recession and with housing prices at astronomic levels, it’s only natural that interest rates will go up at a faster rate and significantly higher than in the UK.
4. Australia as a country is just about the safest place on earth to live – especially important in a world where global terrorism is such a fear factor for much of the population – not to mention the problems with crime which are currently seriously blighting the UK.
5. Australia is also an incredibly beautiful place to live – sun, beaches, clean air etc etc – it’s no wonder immigrants are flocking there in greater and greater numbers.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the contact form and I will be in touch with you shortly.
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Kindest regards,
Dan
Thank you!
Around 4 months and going from strength to strength!
Dan
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I’m married to an Australian and in the last 11 years the Aus $ appears to have gone from strength to strength. However, I do think that cost of living is high, compared to income. I think that the Australian economy is counter cyclical, people are making the same mistakes and over valuing their housing / land stock. The economy will not sustaing its performance at this level for ever. With regard to the strength of the pound, interest rates will eventually get back to normal levels, attracting interest in the £, hence increasing its value.