Weekly Currency Update - GBP/AUD

[Windsor02]

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