Impossible to answer but is the pound going to rally a bit in the foreseeable future?

[Millie1]

Have to send a not insignificant sum to Australia and the exchange rate has really suffered in the last week ... does anyone in the know think that the pound might strengthen a bit over the next few days?
TIA

After a big fall, there is often a retracement of a few percent in the other direction. But I think the trend will be for weakness until the election, especially if the polls point to a hung parliament.

Agree with Tenista. You might get a bit of fluctuation but ultimately the uncertainty over

1. The general election.
2. UK inflation and interest rates.

are likely to be a drag on sterling.

To put it another way, when we say a currency is weakening what we are really saying is that it is getting cheaper. Things get cheaper because demand for them falls. That is what is happening with sterling at the moment. Investors aren't as interested in buying UK stocks or assets (for which you need to hold sterling), so they don't need as much sterling, hence demand for sterling falls, and it weakens.

Thanks ladies ... going to bite the bullet and send it now and then it's done with!