Australian Dollar Improves during Greek Discussions

AUD GBP Lower Ahead of PMI Data for the UK Economy

The Australian Dollar has strengthened this morning compared to its six week high for GBPAUD. The currency has strengthened owing to the potential optimism for the Greek bailout concerning private sector debt swaps which is to be discussed tonight at 8pm UK time so any potential currency movement should be closely watched overnight.

The unemployment figures saw a drop of over 15,000 jobs overnight which was worse than the expected new job count of 5,000 following an increase of over 46,000 the previous month. Bank of England & ECB have both kept their interest rates the same as 0.5% and 1% respectively. My next fore-casted target for the Australian Dollar is 1.50.

If you have a currency exchange to make please contact me Tom Holian [email protected]