The Reserve Bank of Australia last night confirmed they will not be cutting rates soon but have certainly left the door open for such a possibility. This has led to the Aussie weakening slightly in early morning trading making a break above 1.48 for the first time since 10th February. This is providing a good opportunity for anyone with an immediate requirement.
The RBA quoted the Eurozone crisis as the biggest threat to the Australian economy so the overnight news that a Greek deal has been struck (which was probably priced into the rate) hasn’t caused major movement. As it was widely expected the markets haven’t reacted but we could well see some movement later today as the European and US markets open.
If you have any Aussie transfers to consider and are unsure about what is driving current exchange rates why not talk to a specialist about your trade? We are a specialist currency broker that can help you secure the very most from the market. Please feel free to contact me directly on [email protected]