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GBP vs AUD currency overview for 27th March 2018The Australian Dollar has seen mixed performance so far this week, as concerns about a potential ‘trade war’ between the US and Australia have kept the currency from benefitting too much from domestic news.
On Wednesday morning, the Australian Dollar tumbled after China announced fresh tariffs on imports of US goods. As China is Australia’s biggest trade partner, trade clashes involving China have left the ‘Aussie’ looking unappealing.
Australian data has also been unable to support the ‘Aussie’ Dollar. While retail sales beat expectations, building permits fell short. Investors are anticipating further developments on trade, as well as services and trade balance data due on Thursday.
GBP vs AUD trend analysis for 20th April
Both the long term (green line) and recent trends (blue line) show that GBP-AUD is trending upwards.
As the Pound is generally strengthening against the AUD, this means that you should receive more Pounds for every Australian Dollar.
However, as the recent trend is now weaker than the long term trend, the exchange rates between the GBP and the AUD may be softening. Now may be a good time to buy Australian Dollars, depending on the exchange rates that you can achieve, but this weakening trend may indicate that exchange rates are starting to fall.
The overview update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/AUD exchange rates
This article is for information and educational purposes only and does not form a recommendation to invest or otherwise. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.