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Weekly Currency Update GBP/AUD - Week ending 9th April

Weekly Currency Update GBP/AUD - Week ending 9th April

Old Apr 13th 2010, 12:15 am
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Default Weekly Currency Update GBP/AUD - Week ending 9th April

Hi All,

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

The RBA raised rates by another 25 basis points last week to a 14-month high. The post decision statement firmly left the door open for more increases in the months ahead as the normalisation of monetary policy is set to continue; another 75 basis points of official hikes can be expected over the next 6 months.

Employment data confirmed the RBA’s view of a steadily improving economy, with full-time employment growing by 30.1k in March and the Unemployment Rate steady at 5.3%.

GBP/AUD movement – High’s & Low’s of last week (5th April– 9th April)

High’s: 1.6639
Low's: 1.6347

A movement of 1.79%

Difference on £200,000

High: AUD 322,780
Low: AUD 326,940

Difference of: AUD 5,840

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.

Regards


Mark Bodega
Director - HiFX
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