The pound to Australian dollar exchange rate has begun the week strongly, and at the time of writing sterling is up against all major currency pairs so far. GBP/AUD is trading at its highest level of the day at 1.8975, and with the annual high being just over 1-cent from these levels at 1.9093 it could be there case that sterling continues to climb and test this annual high.
Election Polls Affecting Sterling Rates
With the general election now just 17-days away the polls covering the expected election outcome are beginning to have an impact on sterling exchange rates, as the financial markets will be hoping for some certainty regarding the UK government and the plan for Brexit. The Conservative Party’s lack of a majority within Westminster has so far hindered the parties ability to carry out Brexit so far, but if they manage to obtain a majority the route to Brexit could become clearer and simpler. A number of media sources this weekend have suggested that the Conservative Party has opened up a lead vs the Labour party which is perhaps why we’ve seen the Pounds value climb.
I think those of our readers following the pounds value with plans to make a currency transfer soon should be weary of the impact polls have on the pound’s value, as if the Conservative Party’s apparent lead declines we could see the pound fall in value against the Australian dollar.
RBA and US-China Trade Talks
Down under the key topic for the Australian dollar revolves around the US-China trade talks, and also whether or not the Reserve Bank of Australia will continue to cut interest rates. Interest rates in Australia have been consistently cut over the past few years and they now sit at record lows which has negatively impacted the Aussie dollar.
If you would like to be kept up to date on the latest GBP/AUD exchange rates for an upcoming currency transfer, feel free to contact one of our currency specialists using the form below.