The RBA holds firm on interest rates, maintaining inflation remains stubbornly high, attributing much of it to the Government’s spending policies. The AUD has been savaged along with most Western currencies, due to the post-US Election rally, in the US Dollar. This has been tempered by the cautious statements from the Federal Reserve Chairman, but confidence is likely to keep upward pressure on the ‘Big Dollar’.
The current interbank midrate is: AUDUSD .6520
The interbank range this week has been: AUDUSD .6440 – .6520