The Australian dollar has slid under 60c in recent times, largely due to the concerns on the impact on the Chinese economy due to Covid19 and the roll on effect on Australia as a major trading partner.
There doesn’t seem to be anyone optimistic about the Australian economy despite strong terms of trade and a stable, albeit bruised, economy.
The GB Pound has also been a strong gainer now that the confusion of Brexit is behind it. There is too much fog in the near future to even begin to predict any direction of the AUD, but it is remain excellent value for anyone seeking to acquire Australian assets, so don’t be surprised to see some big corporate and property takeovers from foreign corporations.
On a personal level, it could well be an opportune time to send funds to Australia for your next property or investment despite the uncertainty around it finding its next stable level.
That aside, if you do want to take advantage of a weaker AUD, then our SMATSFX service is available to offer you the best prevailing rates when moving funds across borders.
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