Chinese Data Boosts the Australian Dollar (Tom Holian)

Australian Dollar Strength as Travel Corridor with New Zealand Opens

Sterling Australian Dollar exchange rates have had a poor week with a big fall following the RBA’s decision to keep interest rates on hold on Tuesday.

There was an expectation that they would either cut this month or next and with the absence of a rate cut this has led to Australian Dollar strength.

We have also seen the Aussie Dollar strengthen following the minutes from the FOMC in the US.

With the US not being clear as to when they may hike interest rates this has seen global investors look for higher yields on interest rates which is why the Australian Dollar has experienced the benefit.

This morning data from China has come out better than expected with improvements for inflation data coming out at 1.4% compared to the expectation for 1.3%.

This could see further falls for the Australian Dollar during today’s trading session.

If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian teh@currencies.co.uk