Pound to Australian Dollar Forecast
The pound will likely remain fragile while we still lack clarity on Brexit. The gains made when Boris came close to getting a deal still remain apparent on the market. The general belief is that we are closer to a deal. The general election could be cause for concern for GBP sellers however. Historically during a general election the currency in question weakens due to the political uncertainty.
In this situation the value of Sterling may fluctuate depending on which party is in the lead in the polls and their stance on Brexit.
Australian economic concerns
The Australian economy has its own concerns however. The US/China trade war is proving to have a knock on affect to Australia. There is a heavy reliance on China purchasing Australian goods and the tariffs imposed on China by the US is slowing down Chinese growth. When Chinese growth drops so too does the necessity for Australian goods.
At present some believe the UK’s problems outweigh those down under. Considering the uncertainty surrounding the impact of the general election if you have an Australian Dollar requirement it may prove wise to take advantage of rates as they sit.
During unpredictable times you may wish to be in contact with a currency specialist who can provide the latest currency updates. Foreign Currency Direct PLC has specialised in foreign exchange for over 19yrs and we are authorised as an e-money institution by the FCA. If you already use a provider, I can perform a comparison within minutes, to give you an indication of the potential saving you could make by using Foreign Currency Direct for your international currency transfers.