The Australian Dollar has prospered this week following improved employment figures. Yesterdays ‘Employment Change’ saw an increase from the expected figure by 6,000 employed. That coupled with a slight improvement in the unemployment rate has given the impression that the jobs market down under is improving.
An improved labour market would hold the Reserve Bank of Australia back from potentially raising interest rates, a positive for the Aussie Dollar. I believe time is now getting tight for achieving 2 Dollars to the Pound, however definitely still available.
Next week has potentially the last budget for George Osborne and the incumbent Conservative party. As the Autumn Statement was a very politically motivated release, I’d expect the Conservatives to have pulled out all the stops to impress!
Therefore if you have an exchange, please feel free to drop me a line on 01494 787 478. Alternatively email me on AJB@currencies.co.uk