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John from Moneycorp

The Pound vs Australian dollar

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Hi everyone - the latest Pound v Australian dollar review is below, thanks.

 

There has not been much currency related news of note over the weekend/today.

 

Worth keeping an eye on the monthly Reserve Bank of Australia (RBA) Rate Statement on Tuesday morning – in this statement, the RBA announces its policy on interest rates.

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Hi all - latest Australian dollar review is below, thanks.

 

It was a fairly successful week for the Australian dollar.

 

The Aussie was not in the same league as the class-leading Japanese yen or the second-placed NZ dollar but it gained quarter of a cent against the US dollar, half a cent against the euro and a cent against sterling.

 

It would have done better if not for the Australian jobs data, which showed unemployment rising to 6.0% and a noticeable swing to part-time working.

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The latest Australian dollar review is below, thanks.

 

The Australian dollar did a good job of keeping its head below the parapet.

 

There were no exciting Australian economic statistics; vehicle sales enjoyed amonthly increase and business confidence was almost unchanged. With no domesticecostats to affect it the Aussie was left to go with the flow.

 

It was all butunchanged against sterling and the US dollar and it strengthened by two thirdsof a cent against the euro. The Australian dollar's relatively high 2.5% benchmark interest rateundoubtedly helped it to keep pace with the US dollar and the pound becausethose two received particular help last week.

 

In Washington the Federal Reservechairperson said US interest rates would rise sooner and faster than currentlyenvisioned and the pound got a boost when inflation jumped to 1.9%, close toits 2% target. Investors saw the increase as removing one obstacle to higher UK interest rates.

Edited by John from Moneycorp

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Hi all, the latest Australian dollar review is below, thanks.

 

Two events helped the Australian dollar to achieve the best weekly result among the major currencies.

 

One was a speech by the governor of the Reserve Bank of Australia during which he did not once mention how overvalued his currency was. The other was a higher than expected reading for inflation.

 

The Aussie strengthened by two cents against sterling, a cent and a half against the euro and half a cent against the US dollar.

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