Viewing Single Post From: Dollar High, Pound Low

Viewing Single Post From: Dollar High, Pound Low
PC Pom	Sep 10 2008, 01:13 AM
Anyone for tennis? Posts: 654 Group: Admin Member #1 Joined: March 23, 2006	"Just a short note to let you know that the GBP/AUD rate opened today at a 5-month high of 2.1900. In volatile trade this morning, it briefly touched 2.2000. This represents an appreciation of 7.5 per cent compared to just seven weeks ago on July 23, 2008 when it was trading at 2.0470. The recent low was 2.0298 on June 4, 2008. The Australian Dollar has weakened significantly due to a strong U.S. Dollar and an end to the tightening cycle in official interest rates. Last Tuesday, The Reserve Bank of Australia cut interest rates for the first time in 7 years by 25 basis points to 7.00 per cent and has more than hinted at lower rates in a recent statement saying “with domestic demand slowing, the Board’s view is that scope to move towards a less restrictive stance of monetary policy in the period ahead is increasing”. Financial markets have taken the view that further moves down in interest rates are imminent. The Pound could gain more strength against the Aussie from here but there is significant volatility and renewed weakness cannot be discounted." Sent to me by OzForex. Good news at long last for anyone looking to cash in their savings and make the trip out over here. But do you lock it in now? Paul.
	Koala Konnection UK to Australia and New Zealand. Migration Made Easy.

Dollar High, Pound Low · Money Matters