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    Thread: The Pound vs Australian dollar


    1. #191

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      The Australian dollar is much weaker against the pound today.

      Speculation has intensified that the Reserve Bank of Australia may consider an interest rate cut in early February. Growth forecasted in Australia appear to be relatively negatively and all this is leading to a weak Aussie dollar.

    2. #192

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      The Australian dollar remains weak against the pound. As mentioned above, there is little economic news coming out anywhere to help boost/strengthen the dollar.

      The GBP/AUD exchange rate is currently at good levels for those who are transferring money to Australia.

    3. #193

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      Hi John
      do you think it will hit 2.0
      i read it may go 2.1
      holding on because of interest rates and election
      All advice welcome
      thanks

    4. #194

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      All depends on what news comes out next and when do you need money over in Australia - the Australian dollar has had a tough time of it recently hence the exchange rate improving for those moving money to Australia - why not set a target rate, within your timeframe, and if it hits these levels you can transfer a portion of your money over?

      A round up of the week's news is below.

      It was not quite a one-way-street south for the Australian dollar but it did not get many lucky breaks. The only thing really in its favour was that when the Reserve Bank of Australia governor and his deputy gave speeches during the week they did not labour the point about an over-valued currency.

      The Aussie's unlucky break was Thursday's employment data. They revealed a loss of 12k jobs in January and showed a jump in the rate of unemployment to 6.4%, matching the 12-year high of last July.

      The Australian dollar's situation worsened later the same day when the Bank of England governor said that UK interest rates could rise "more quickly than implied by current market yields". The pound moved higher as a result of his observation. On the week the Aussie lost half a US cent and it fell by two and a quarter cents against the pound.

    5. #195

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      The weekly review of the Australian dollar is below.

      With most investors' concentration focused squarely on the bailout squabble between Greece and Germany they did not have much time to spare for the Australian dollar. They might have given it more attention had there been any domesticeconomic statistics to change their view but there were none. The Aussie did receive some help from overseas though. In the minutes of the US Federal Reserve's monetary policy meeting there were hints that the Fed might be less keen to begin taking interest rates higher and that the Funds Rate would be kept close to zero "for a longer time".

      There was also an observation that the strong US dollar is "a persistent source of restraint" on exports. The prospect of low US rates for longer was positive for most commodity-related currencies, including the Aussie. It strengthened by a fifth of a US cent and went up by a third of a cent against sterling.

    6. #196

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      Australian dollar has strengthened against the pound following the RBA keeping interest rates on hold - some analysts expected a further rate cut.

    7. #197

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      The Australian dollar remained strong throughout the day following the RBA interest rate announcement.

      One aspect to bear in mind is the US dollar which could have an impact on the AUD. If the US economy gets stronger along with any interest rate rise in the US then investors could turn more to USD rather than AUD.

      With a UK election also not too far away there could be fluctuating times ahead for the GBP/AUD exchange rate.

    8. #198

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      Following the interest rate announcement in Australia, the Aussie dollar remains strong against the pound.

    9. #199

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      Weekly update is below.

      The Australian dollar was one of the week's top-performing major currencies. It strengthened by two and a half cents against the euro and the pound. It was unchanged against the US and Canadian dollars, but only by accident.

      There was no coherent message from the Australian economic data. New home sales and building permits rose strongly but the construction sector reported a fourth month of slowing activity. The manufacturing sector shrank in February while the services sector expanded. Gross domestic product was in line with forecast, expanding by an annualised 2.5% in the fourth quarter of 2014.

      The real boost to the Aussie was the Reserve Bank of Australia's decision on Tuesday to keep its benchmark interest rate unchanged at 2.5%. There had been a general expectation that the RBA would cut its Cash Rate to 2.25% so its failure to do so sent the currency higher.

    10. #200

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      The Australian dollar has weakened slightly.

      This followed comments from Reserve Bank of Australia Assistant Governor Christopher Kent – he said the Australian dollar is still "relatively high".

     

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