Tuesday 20th May 2008 Interbank rate: GB POUNDS
/ AUSTRALIAN DOLLARS 2.0543
The Aussie Dollar has consolidated at these higher levels
Despite the fact that interest rates seem to have peaked in Australia
the Aussie dollar remains fundamentally sound. Persistently high
commodity prices have kept the Australian economy buoyed despite the
global credit woes affecting other countries. Additionally, global
investors have increased their risk appetite and as such the high yields
inherent in the Aussie dollar have attracted more global money flows
keeping the Aussie dollar high.
With the prospect of at least a few more cuts from the Bank of England
and the Federal Reserve the Australian dollar looks a good bet to hold
at these high levels in the short term. Beware though, the credit crisis
is far from over and anything could tip the markets into another panic
dive which will drag the Australian dollar down as investors scramble to
sell risky carry trades. GB Pounds / AU Dollar is trading around 2.12
while US Dollar /AU Dollar trades at 0.93 cents.
Wednesday 15th May 2008 Interbank rate: GB POUNDS
/ AUSTRALIAN DOLLARS 2.0751
The Aussie Dollar has consolidated at these higher levels
Despite the fact that interest rates seem to have peaked in Australia
the Aussie dollar remains fundamentally sound. Persistently high
commodity prices have kept the Australian economy buoyed despite the
global credit woes affecting other countries. Additionally, global
investors have increased their risk appetite and as such the high yields
inherent in the Aussie dollar have attracted more global money flows
keeping the Aussie dollar high.
With the prospect of at least a few more cuts from the Bank of England
and the Federal Reserve the Australian dollar looks a good bet to hold
at these high levels in the short term. Beware though, the credit crisis
is far from over and anything could tip the markets into another panic
dive which will drag the Australian dollar down as investors scramble to
sell risky carry trades. GB Pounds / AU Dollar is trading around 2.12
while US Dollar /AU Dollar trades at 0.93 cents.
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