The surprising buoyancy of the EUR, following rate cuts from the ECB, has worked to bring the cross rate back toward 0.6100. The ECB has space to continue rate cuts, while the RBA has indicated a penchant, for at least holding rates, at these elevated levels. This should support favourable conditions for the AUD, in terms of the cross-rate, with the EUR.
The current interbank midrate is: AUDEUR .6130 EURAUD 1.6313
The interbank range this week has been: AUDEUR .6050-.6130 EURAUD 1.6313 – 1.6528