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 No Commission 0 Personal Transfers Business Transfers FCA Authorized 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

Aussie Hits 10-Day High Versus Pound, as BoE Warns of 'No Deal' Brexit

Market CommentaryAussie Hits 10-Day High Versus Pound, as BoE Warns of 'No Deal' Brexit
Aussie Hits 10-Day High Versus Pound, as BoE Warns of 'No Deal' Brexit
Image credit: Vince Varga.

Welcome to Pure FX's latest update of the Australian dollar to pound exchange rate. This tells you when it may be the best time to exchange Australian dollars to pounds, for your money transfer!

The Aussie strengthens versus sterling! The Australian dollar to pound exchange rate has hit 0.5704 today, its strongest in 10 days, or since November 19th.

By contrast, back on November 22nd, the AU dollar was as low as 0.5622 versus the pound, so it's since climbed by +0.75 cents, or +1.45%! To put this into context for you, if you transfer AU$250,000 to Australia at today's exchange rate, you'd get £142,600, or +£2,050 more than if you'd done so on November 22nd!

As a result, it's a fab time to emigrate from Australia to the UK, or import British goods for your Aussie firm.

Pound Weakens, as Bank of England Warns of 'No Deal' Brexit

The Australian dollar has reached this 10-day high versus the pound, because the Bank of England (BoE) has warned of the risks of a "no deal" Brexit for the UK economy.

Yesterday, the UK's central bank said that, if the UK crashes out of Europe, the UK GDP may fall by -8%, while sterling could fall by -25%. Moreover, BoE governor Mark Carney has told BBC Radio 4 today that fewer than half of UK businesses have Brexit contingency plans.

This has weakened sterling, because the UK central bank's forecasts highlight the importance of the UK agreeing an orderly Brexit deal!

Aussie Rises, as AU Businesses Lift 2018/19 Investment Plans

What's more, the Australian dollar to pound exchange rate has also climbed, because Australian businesses intend to invest more in 2018/19, it's been revealed today.

According to Australia's quarterly CAPEX survey of business investment plans, Aussie firms intend to spend AU$114 billion into next year, +11% higher than previously thought. In particular, Australian companies plan to invest in equipment, plants and machinery, in the non-mining sector.

This bodes well for Australia's continuing economic growth into 2019, thus lifting the Australian dollar higher versus the pound!

Australian Dollar Climbs, as US Fed Less Likely to Hike

In addition, the Australian dollar has jumped to this 10-day high against sterling, because the US Federal Reserve now looks less likely to lift interest rates next year.

Yesterday, US Fed chairman Jerome Powell said that America's interest rates are already "just below the level that would be neutral for the economy". This has lifted the Australian dollar, because when the USA keeps interest rates lower, investors are likelier to park cash in Australia.

Moreover, interest rates in Australia stand at 1.5% at present, significantly above the UK's 0.75%, thereby boosting the Australian dollar!

AU Dollar Could Continue to Climb, as Australia's Q3 GDP due

Furthermore, looking ahead, the Australian dollar to pound exchange rate could continue to climb.

This is because Australia's economic growth figures for July to September are released next week, in which it's thought that Australia's GDP expanded by between +0.5-1.0%. If so, this will mean that Australia remains one of the fastest-growing industrialised countries in the world, buoyed by Australia's close economic ties with Asia.

Already, Australia has achieved over 25 years without a recession, pointing to the significant economic success Down Under, which may lift the Aussie!

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 peter.lavelle@purefx.co.uk.

Get A Free Quote
I’d like to exchange...
Because I want to...
And I would like it...
Pure FX awarded Feefo Gold Trusted Merchant 2016PureFX's Product Rating on Feefo

What Our Clients Say

Read all the reviews at Feefo.com

Why Us

FCA Authorised

Directly authorised by the UK's Financial Conduct Authority, so your money is highly secure.

No Hidden Fees & 0% Commission

So you get our biggest possible saving when you exchange currencies.

Same Day Transfers

Receive your money in your destination bank account the same day you send it, for most mainstream currencies.

Outstanding Exchange Rates

Get bigger savings, with Pure FX's best exchange rate guaranteed!

Dedicated Personal Service

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

Trusted Foreign Exchange Broker

Since we were established in 2006, we've transferred money for thousands of satisfied clients.

How It Works

  • Quote

    Use our form to get a free exchange rate quote, and find out how much you could save with Pure FX.
  • Register

    We'll be in touch to give you your exchange rate quote, ask you any further questions and tell you how the transfer process works.
  • Transfer

    From buying a property abroad, to making business transfers, or online selling - we have you covered.