If you’ve been reading my previous posts you’ll notice that on Saturday I predicted Australian Dollar strength this week.
The main catalyst for this is still down to the interest rate cut in Europe last week whereby global investors have sought out higher yielding currencies including the Australian Dollar.
UK unemployment came out a lot better than expected but this has done little to help the Pound which suggests to me that the AUD will remain strong towards the end of the week.
With the World Bank lowering the growth forecast from 5.3% to 4.8% again this could be another reason why investors has chosen to remain in the Australian Dollar for a better return.
Australian unemployment figures are due out in the morning and I think they will remain positive.
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