Pounds to Australian Dollars EXchange Rate still heading lower

Hi All,

Seems that our thought that the Australian Economy would continue to outperform the rest of the world has come true (for now) with the Reserve Bank of Australia holding on cut australian interest rates this month and looking to do the same again whilst they see the full effect of the previous stimulus packages. This is very step contrast to here in the UK were the pounds woes keep getting worse and worse as you predicted back in Feburary in our post Australian Dollar Rate Outlook - Australian economy continues to surprise.

We are now at an interesting point is it time to give up on this view or is the pounds to Australian Dollars rate still heading lower. I personally feel that there is limited opportunity for the australian dollar rate to go up as the good news could start coming to an end and as there has been so much bad news from the uk - surely we are due some good?

So for those of you moving to australia look for the opportunity to sell pounds buy australian dollars at 2.1700 or better if you can.

If you have any questions or want a free quote feel free to call + 44 207 183 2790

Pounds to Australian Dollars = 2.0960
Euros To Australian Dollars = 1.9714
Australian Dollars to US Dollars = 06902
Australian Dollars to New Zealand Dollars = 1.2285

Bye For Now

Damian George
IMS Foreign Exchange
Foreign Exchange Trading
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