Australian Dollar | Latest Australian Dollar Exchange Rate News
Australian dollar, New Zealand dollar both retain high levels vs British pound; Australian interest rate cut expected
- Details
- Category: Australian Dollar
- Published on Monday, 06 February 2012 10:33
- Written by Rob Samson
Australian Dollar Today: The pound Australian dollar exchange rate (GBP/AUD) is while the British pound to New Zealand dollar exchange rate (GBP/NZD) is 0.13% higher at 1.8955.
The Australian dollar received a major boost as a result of the strong US non-farm payroll figure. However, we have seen the two commodity currencies pull back in line with Greek debt resolution concerns. ( Read about these latest developments here).
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Pound sterling hit fresh record lows against the Australian dollar as risk appetite was given a shot in the arm by more good news from the world’s largest economy.
There was some slightly less positive news from the Australian domestic economy, with retail sales contracting last month.
That said, the Australian jobs market did improve last month.
"We are expecting an interest rate cut from the Reserve Bank of Australia this evening, from 4.25% to 4.00%. This has been priced in and shouldn’t weigh on the Australian dollar significantly," says Richard Driver at Caxton Fx.
Sterling remains at low levels against the kiwi dollar, amid hefty gains in Asian stocks.
The Nikkei index gained by a percent last night, triggered by the upbeat news from the US labour market, which drove the kiwi dollar higher. Sterling has rebounded a little today amid risk-off trading ahead of this morning’s Greek deadline.
The pound vs New Zealand dollar pair is trading back down below 1.90 this morning, but sterling may struggle to climb much higher today if a deal emerges.
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