The Australian Dollar has continued its run of strength against the pound, US Dollar and Euro. Yesterday the Aussie reached its highest ever level against the Euro and was trading at a 4 month high against the pound. These are amazing levels for selling your Australian Dollars.
The Australian Dollar is an extremely volatile currency. Investor sentiment has a big effect on the state of the Dollar. With hopes of a resolution to come out of Europe on Thursday to help solve the regions debt crisis investors have been looking once more to the riskier southern hemisphere currencies.
I would not be surprised to see the AUD continue its strong run. Should data out of China or Australia’s retail sales and trade balance data out in the early morning on Thursday, come out slightly negative then we may see the gains reversed.
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