Australian Dollar Strengthens against the Pound following US Jobs Data

Will Sterling Weakness Continue to Help the AUD to GBP Rate Improve?

Following on from the news on US Non-Farm Payrolls where 243,000 new job were created in December the US Dollar has strengthened against the AUD$. However, the AUD$ has hit levels of 1.4650 against Sterling since the announcement. The US Unemployment rate dropped to 8.3% which is the best in 3 years.

The AUD$ is now waiting for news on the issue of Greece and its current debt problems. If a resolution is found we could see the AUD rally on the back of the news against the Pound. With an interest rate of 4.25% if the global economy stabilises it will encourage more carry trading with the AUD. For further up to date information or any specific questions please email me Tom Holian teh@currencies.co.uk