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Australian Dollar | Latest Australian Dollar Exchange Rate News
Australian dollar to benefit from debt-related inflows and commodity-supportive market conditions
- Details
- Category: Australian Dollar
- Published on Friday, 27 January 2012 10:54
- Written by Will Peters
The New Zealand dollar also continues to benefit vs the British pound on the back of risk positive equity markets.
The pound Australian dollar exchange rate is 0.13% lower at 1.475.
The pound New Zealand dollar exchange rate is 0.14% lower at 1.9087.
The Australian dollar continues to find support from the risk-positive market environment. Increases in mining shares and commodity prices hint at supportive environment for the Australian economy which sees a significant amount of GDP derived from commodity export.
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Australia’s debt management office announced plans to issue A$700 mln of 2022 bonds on Feb 1, and another A$700 mln of 2018 paper on Feb.
"These are the first Australian commonwealth bonds to be issued this year, and given overseas investors continue to show a keen appetite for Australian debt, we would not be surprised to see some AUD inflows on the back of this," says Gareth Berry at UBS.
The New Zealand dollar continues its advance against the British pound.
RBNZ Governor Bollard said he has not raised the OCR again since the emergency rate cut in March 2011 because of ongoing aftershocks in Christchurch which have delayed the reconstruction effort.
The “deepening Euro crisis” has also contributed to the decision to keep rates on hold.
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