FX News

AUD/USD Transfer

The Australian Dollar (AUD) has easily been the strongest performing currency on the main board this week rising to 0.6670 against the US Dollar (USD) cancelling most of last week’s losses. However, we still need a break above 0.6700 or a move below 0.6570 to really highlight a trend change either way from predominantly sideways moves over the past 5 weeks or so. The RBA cash rate remains unchanged at 4.35% as widely predicted, but the Reserve Bank warned of the potential for upticks to inflation and price pressures suggesting there was still a small chance of a hike. The RBA saying it will be some time yet before inflation is safely within their target band of between 2-3% – currently 3.6%. We expect the AUD/USD to retest 0.6700 over the coming days.

The current interbank midrate is: AUDUSD 0.6656

The interbank range this week has been: AUDUSD 0.6584- 0.6678




Previous ArticleNext Article