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    Thread: The Pound vs Australian dollar


    1. #11

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      It was a bit of a struggle for the Australian dollar last week, as it was for the other commodity-related currencies. The Aussie lost a cent and a half to the US dollar and two and a half cents to the pound. It was almost unchanged against the New Zealand dollar.

      Underlying its relative weakness was the renewed nervousness of investors about peripheral Europe and their consequent reluctance to become any more involved with "risky" currencies. Allegations of corruption in the Spanish prime minister's office and a resurgence in the electoral popularity of Silvio Berlusconi in Italy gave rise to concern about changes of government that could mean the abandonment of deficit-reduction measures and a re-escalation of the euro zone sovereign debt crisis.

      Sterling and the US dollar both benefited from this change of emphasis but the pound had an extra advantage. The Bank of England governor-designate made clear that he did not believe it would be a good idea for the Bank to move away from targeting inflation. Investors were relieved to hear it and so was the pound.

    2. #12

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      The Australian dollar is strong due to good consumer confidence numbers released this week – this has helped the Aussie against the pound.

      Currently, there is very little or no good economic news coming out of the UK.


    3. #13

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      The Australian dollar remains very strong against the pound – the Reserve Bank of Australia (RBA) suggested it might be done cutting interest rates for now.

      The RBA also played down the risk of currency market intervention saying that while the Australian dollar is overvalued it did not need action yet.
      Last edited by John from Moneycorp; 22-02-2013 at 12:05 PM.

    4. #14

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      The Australian dollar remains very strong against the pound.

      So far in 2013, after the yen, the pound is the second-worst currency performer in the developed world.

      As we know, the Australian economy is very strong in comparison with the UK - Australia hasn't experienced a recession in 21 years.

    5. #15

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      The graph below shows the GBP/AUD exchange rate over the past month - as we can see, the pound has weakened considerably.


    6. #16

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      Thanks for this info John, we are moving in May to Adelaide and will be looking to transfer money but may keep some in the UK and hope the pound strengthens again and then transfer more then so we get more Dollars for our money, do you think the pound will become stronger against the dollar in months to come?

    7. #17

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      Hi Jamie

      At the moment, there has been little or no good news to come out of the UK - for the pound to pick up and strengthen, there will have to be signs, and data released, which shows the economy is on the road to recovery. Additionally, currently, there is no news to weaken the Australian dollar.

      In order to maxmise your money transfers, it is worth exploring the different ways you can buy your currency, click here for more info - http://moneytransfer.pomsinoz.com/va...-currency.html

      Happy to discuss your situation in more detail via private message.

      Thanks

      John

    8. #18

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      Hi John I have similar concerns moving in 5 weeks - could I also have a chat privately?

    9. #19

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      Quote Originally Posted by thewhitehouse View Post
      Hi John I have similar concerns moving in 5 weeks - could I also have a chat privately?
      Of course, feel free to private message me.

      Many thanks

      John

    10. #20

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      A brief review of the past week is below.

      The Australian dollar fared better than sterling but the difference was just a quarter of a cent.


      Helping the Aussie were figures showing a 71.5k increase in the number of people in employment, eight times as many as forecast.

      Sterling's leg up came from the Bank of England governor, who was uncharacteristically upbeat during a TV interview. He said "recovery is in sight" and implied that the pound had fallen far enough.
      Last edited by John from Moneycorp; 19-03-2013 at 09:23 AM.

     

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