Pure FX Logo arrow Reviews On Feefo Pure FX Logo Exemplary Service In-Depth Knowledge We're Jargon Free Same-Day Transfers Better Exchange Rates Purefx_currency_exchange Personal Transfers Business Transfers Personal Service Trusted Brokers Get A Quote Register With Us Make A Transfer Seller Transfers Contract Definitions Read Our Top Tips What Influences Exchange Rates Glossary Frequently Asked Questions Contact Us

AU Dollar Hits 3-Week High Versus Pound, as Aussie Retail Sales Rise

Market CommentaryAU Dollar Hits 3-Week High Versus Pound, as Aussie Retail Sales Rise
AU Dollar Hits 3-Week High Versus Pound, as Aussie Retail Sales Rise
Image credit: Sam Savine.

Welcome to Pure FX's latest update of the Australian dollar to pound interbank exchange rate!

The Australian dollar jumps versus sterling! The Australian dollar to pound interbank exchange rate has hit 0.5656 today, its highest in 3 weeks, or since December 19th.

By contrast, back on January 1st, the Australian dollar was as low as 0.5467 versus the pound, so it's since strengthened by +2 cents, or +3.45%!

AU$250,000 transferred to the UK at this exchange rate would be worth £141,400, or +£4,725 than on January 1st!

So if you're an Australian thinking of emigrating to the UK, or an AU business owner importing UK goods for your firm, this may be helpful to know!

Australian Dollar Rises, as Aussie Retail Sales Jump

The Australian dollar to pound interbank exchange rate has hit this 3-week high, because Australia's retail sales rose more than forecast in November, said official statistics on Thursday.

To be specific, retail sales Down Under rose by +0.4% in November, according to the Australian Bureau of Statistics (ABS), above predictions for a +0.3% climb.

This was the sharpest rise in Australia's retail sales since April 2017, boosted by Black Friday and Cyber Monday sales.

In particular, clothing, footwear and personal accessories sales flew up, thereby strengthening the Australian dollar!

AU Dollar Climbs, as Value of Australian Commodities Flies

What's more, the Australian dollar has hit this 3-week high versus the pound, because the price of Australia's key commodities has rocketed.

In particular, the price of iron ore and coal, Australia's 2 biggest export commodities, hit a 6-year high in December, said Metal Bulletin this week.

For example, iron ore prices have risen by close to +20% in the last month, to $74.46 a tonne.

As a result, Australia's iron and ore and coal miners will make more money from exporting their commodities, in particular to Chinese customers. This will lift Australia's GDP growth, and the Aussie too!

Aussie Dollar Strengthens, as Chinese Yuan Hits 5-Month High

Moreover, the Australian dollar to pound interbank exchange rate has risen, because the value of China's yuan has hit a 5-month high.

To be specific, the yuan has strengthened by +1.9% against the US dollar so far this week, to 6.7410, its strongest since July 2005.

This is because US President Donald Trump has softened his trade stance toward China, boosting hopes that a trade deal will soon be signed.

In turn, if China's economy accelerates following a trade deal with America, China may buy more Australian products, like iron ore and coal. So the yuan's boost has lifted the Aussie too!

Get A Free Australian Dollar to Pound Exchange Rate Quote

Get a free Australian dollar to pound exchange rate quote to get a highly competitive exchange rate, and find out how much you could save with Pure FX.

You’ll get a highly competitive Australian dollar to pound exchange rate for your money transfer!

Please bear in mind, this article is Pure FX’s opinion only and does not constitute advice. Moreover, the exchange rates referred to in this article are the interbank rates, which are the rates at which banks and financial institutions buy and sell currency to each other. Therefore these exchange rates cannot be accessed by individuals or SMEs, and are not the same rates that Pure FX can offer. To get a free exchange rate quote, call us on +44 (0) 1494 671800, or email [email protected]

Get a Quote
Feefo service

What Our Clients Say

Read all the reviews at Feefo.com

Why Us

Exceptional Service

We have received Feefo's Gold Trusted Service Award 3 years in a row.

Same Day Transfers

We can transfer your money to your destination bank account the same day you send it, once we’ve confirmed the payment details with you.

Competitive Exchange Rates

Competitive exchange rates and transparent transfer fees, so you know exactly what you’re paying for.

Dedicated Personal Service

To guide you through the transfer process and keep you up-to-date with the changing exchange rates.

Established in 2006

Since then, we’ve transferred money for thousands of satisfied clients.

How It Works

  • 1. Register

    for a no obligation account
  • 2. Agree the exchange rate

    with your account manager over the phone
  • 3. Send us payment

    for the transfer of your purchased currency
  • 4. We transfer the currency

    to your nominated account