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Guest HIFX plc

Weekly Currency Update - GBP/AUD

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    Guest HIFX plc

    Hi All,

     

    As promised here’s a brief update on what’s been happening with the Aussie Dollar over the last week.

     

    The Reserve Bank of Australia concluded at the end of its monthly meeting by saying the current low rate of 3.00% was justified, suggesting it was in no hurry to tighten.

     

    The revival in the domestic economy was highlighted after Australian employment exceeded all expectations by rising 32,200 in July, posting its largest gain in nine months to keep the jobless rate steady as 5.8%. A separate report revealed that retail sales for June disappointed with a 1.4% drop, however the decline followed three very strong months and lifted sales for the entire second quarter by a healthy 2.0%.

     

    AUD Movement – High’s & Low’s of last week (03/08/09 – 07/08/09)

     

    High’s: 2.0273

    Low's: 1.9883

    A movement of 1.96%

     

    Difference on £200,000

     

    High: 405,460 AUD

    Low: 397,660 AUD

    Difference of: 7,800 AUD.

     

    Whilst FX 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.

     

    Regards

     

     

     

     

    Jon Sermon

    HiFX

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