The AUD has been hit by a relentless rise in the US Dollar reserve, but has performed relatively well, compared to comparable currencies. The reason is the steadfast tight monetary position the RBA has held, in an attempt to stamp out stubbornly high inflation. The relatively good performance of the OZZY, has been due to monetary policy, and this is likely to continue until the RBA sees a creditable turn in the inflation trend line. The AUD trades around 0.6700.
The current interbank midrate is: AUDEUR 0.6180 EURAUD 1.6181
The interbank range this week has been: AUDEUR 0.6124- 0.6192 EURAUD 1.6148- 1.6327