Australian dollar continues to fall in value as commodity prices continue to fall. The Russian crisis and the massive devaluation of the rouble, which has lost over 15% this week and over 50% this year against the USD, is starting to impact risk appetite of traders. As they unwind CARRY TRADES in Australia the mass excess is creating AUD weakness and an opportunity for buyers. This is welcome news for the RSA which is constantly seeking a weaker dollar helping their exports become cheaper globally to buy. With further falls expected in the price of oil I would not be surprised to see the GBPAUD pairing climb further and challenge 1.95 in the near future.
Contact myself for more information and live prices, Steve Eakins, via email if needed which is [email protected]