Question – Which ‘cold and snowy’ economy has heated up the Australian Dollar??
An incredibly busy trading day today as all international markets moved substantially on Swiss National Bank (SNB) news. The SNB shocked the markets by cutting their interest rates and removing an artificial trading peg with the Euro. Although the Swiss Franc and Australian Dollar are not a regularly traded currency pairing, the ‘attitude to risk’ is what has moved the rates. The Swiss Franc is what is considered a ;safe haven currency’ (much like the US Dollar) and on the release of the Swiss news, investors flocked to the markets to move their funds in to Comoddity currencies.
Looking ahead; It is firmly my belief that the Australian Dollar is on a path to achieve 2 Australian Dollars to the Pound. With the Reserve Bank of Australia meeting in February and regular statements devaluing the Aussie, it is key to have eyes and ears on the markets.
If you have an exchange requirement, please feel free to contact me direct to the trading floor on 01494 787 478 / [email protected]