AUD Remains Strong Despite Slow Down in China’s Economic Growth

Increase in Risk Appetite Helps Support the Australian Dollar

AUD to GBP AUD to USD AUD to EUR AUD Strength

The AUD continue to surpass expectations and has comfortably performed better than any other major currency in the past twelve months. Even though it has moved away from its 30 year high against GBP, it is still trading in the low 1.50’s and providing excellent selling opportunities for all those moving back to the wet and windy UK from their time down under.

It is also sitting near a 52 week high against the EUR and continues to sit above parity with the USD, a statement not many would have believed two years ago. It has continued to prosper whilst the EUR has fallen and in my opinion there is no reason to think that the AUD cannot continue its recent rise, all be it at perhaps a slower pace.

The Australian economy and ultimately the AUD has benefited from China’s sharp rise in economic growth. China currently has the worlds second largest economy and it’s their reliance on Australia’s abundance of raw materials that has spearheaded the Australian economy. Even with the recent slowdown in China’s economy (it has grown at its slowest place in 3 years) the AUD has continued to hold its ground against the other majorly traded currencies.

If you have an upcoming currency requirement or would like to be kept up to date with all the latest market movements than please feel free to contact me directly at mtv@currencies.co.uk or on 01494 787 478.