Australian Dollar continues to weaken following Bank of Japan announcement

AUDGBP Exchange Rate Starts the Week in Strong Fashion

We have seen the Australian Dollar continue to weaken this week partly following the announcement made by the Bank of Japan. After the announcement we saw a sell off of Yen but since the news the markets have corrected again and funds have flooded back to Japan and away from the AUD. The AUD has dropped by over 1% against the YEN and the same over the last two days against Sterling. The continued arguments over the island dispute between Japan and China could also harm Chinese prospects and therefore also create some negativity for the Australian Dollar.

Also, news surrounding Europe and the instability surrounding the single currency continues to affect how the AUD may perform over the next few days. I would anticipate GBP being the primary benefactor of any bad news down under and resistance levels are looking at GBPAUD 1.5660 so if you’re thinking about making a currency transfer and want to save money on your exchange rates feel free to contact me directly Tom Holian teh@currencies.co.uk

As an experienced writer on various websites please feel free to take a look at www.poundsterlingforecast.com and www.eurorateforecast.com for further information. Alternatively click on the attached link http://uk.finance.yahoo.com/news/spain-places-10-bonds-lower-091437846.html which will provide you with the detailed analysis of the bond issues in Spain. If the Spanish problem persists which I think it may well do we could see more uncertainty which in turn could see more weakening of the Australian Dollar. Feel free to also read the attached article which shows how poorly businesses in Europe are doing http://uk.finance.yahoo.com/news/spain-places-10-bonds-lower-091437846.html

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