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Weekly Currency Update GBP/AUD - Week ending 23rd April

Weekly Currency Update GBP/AUD - Week ending 23rd April

Old Apr 26th 2010, 9:07 pm
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Default Weekly Currency Update GBP/AUD - Week ending 23rd April

Hi All,

As promised here’s a brief update on what’s been happening with the Australian Dollar over the last week.

The Monetary Policy Meeting Minutes and RBA Governor Stevens’ speech re-affirmed that interest rate tightening in this cycle is nearing its conclusion but at least another two hikes of 25 basis points can be expected over the next few months. Governor Stevens highlighted this week’s CPI data as important to the timing of the next rise; the trimmed mean CPI is the Board’s preferred indicator of inflation.

Last week, the market was dominated by events offshore concerning Greek debt and US corporate earnings and this will again be the major driver this week.

GBP/AUD movement – High’s & Low’s of last week 19th April– 23rd April)

High’s: 1.6742
Low's: 1.6463

A movement of 1.69%

Difference on £200,000

High: AUD 334,840
Low: AUD 329,260

Difference of: AUD 5,580

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.


Mark Bodega
Director - HiFX
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