Australian Dollar Rate Outlook
The Australian economy continues to surprise to the upside and Governor Stevens comments last Friday suggest that the Reserve Bank of Australian not to cut Australian mortgage rates when they meet next week. This is against the Foreign exchange markets current view of a 0.50% interest rate cut. If the RBA doesn't cut rates we expect that the that the Australian dollar will rally against the pound, us dollar, euro and New Zealand dollar. (this is a view shared by UBS that have stated that they favor the AUDNZD to target 1.3300 from its current level of 1.2720.)
So how does that effect you if you need to buy Australian dollars?
We suggest that Prudence is needed if you are migrating to Australia and we have suggested our clients lock in 2.2000 plus in regards to the pounds to Australian dollar exchange rate as this rate could easily fall back below 2.1400 in the coming days.
Continued bad news from the UK cant be ignored much longer and foreign exchange traders tend to behave like sheep and we switch their views much quicker than many realise and I wouldn't be surprised to see an exchange rate of 2.1000 within 48hrs.
If you want to talk through your options and a free quote please call us at IMS Foreign Exchange on +44 207 183 2790
Pounds to Australian Dollars Exchange rate = 2.22028
Euros to Australian Dollars Exchange rate = 1.9800
US Dollars to Australian Dollars Exchange rate = 0.6348
New Zealand Dollars to Australian Dollars Exchange rate = 1.2730
Regards
IMS Foreign Exchange
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
The Australian economy continues to surprise to the upside and Governor Stevens comments last Friday suggest that the Reserve Bank of Australian not to cut Australian mortgage rates when they meet next week. This is against the Foreign exchange markets current view of a 0.50% interest rate cut. If the RBA doesn't cut rates we expect that the that the Australian dollar will rally against the pound, us dollar, euro and New Zealand dollar. (this is a view shared by UBS that have stated that they favor the AUDNZD to target 1.3300 from its current level of 1.2720.)
So how does that effect you if you need to buy Australian dollars?
We suggest that Prudence is needed if you are migrating to Australia and we have suggested our clients lock in 2.2000 plus in regards to the pounds to Australian dollar exchange rate as this rate could easily fall back below 2.1400 in the coming days.
Continued bad news from the UK cant be ignored much longer and foreign exchange traders tend to behave like sheep and we switch their views much quicker than many realise and I wouldn't be surprised to see an exchange rate of 2.1000 within 48hrs.
If you want to talk through your options and a free quote please call us at IMS Foreign Exchange on +44 207 183 2790
Pounds to Australian Dollars Exchange rate = 2.22028
Euros to Australian Dollars Exchange rate = 1.9800
US Dollars to Australian Dollars Exchange rate = 0.6348
New Zealand Dollars to Australian Dollars Exchange rate = 1.2730
Regards
IMS Foreign Exchange
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!
Contact IMS Foreign Exchange + 44 207 183 2790
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