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Guest HIFX plc

GBP/AUD Weekly Update

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    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

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