GBP/AUD Weekly Update

[Guest HIFX plc]

Hi All,

 

Here’s an update of what’s been happening in the Currency Markets over the last week.

 

As expected, the RBA left interest rates on hold at 3.0% for the third consecutive month, try to assist the economic recovery.

 

There was some positive news as consumer confidence was its highest for 19 months!! Even though the employment situation looks wobbly!

 

The equity markets are having an influence on the AUD strength, investors searching for ‘risk aversion’ tactics in the equity markets will add renewed pressure.

 

AUD Movement – High’s & Low’s of last week (06/07/09 – 10/07/09)

High’s: 2.0984

Low's: 2.0198

A movement of 3.89%

 

Difference on £200,000

High: 419,680 AUD

Low: 403,960 AUD

Difference of: 15,720 AUD

 

Whilst FX certainly isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

 

Best Regards,

Jon Sermon

HiFX