The Australian Dollar continues to fall against the majority of its most traded peers but for those holding Pounds the exchange rate hasn’t been so good since 2010.
The ‘Aussie’ is continuing its descent as investors and traders are in their most bearish mood against the currency in two-months as the Reserve Bank of Australia continues to reiterate that it wants to see the Australian currency lower. Against the US Dollar the currency is on the verge of pushing below 90 cents.
“The Australian Dollar fell to a new three-month low against the ‘Greenback’ after the Deputy Governor of the RBA said that he expected the AUD exchange rate to fall further and the currency intervention was not ruled out. His comments echoed recent similar comments made by Governor Glenn Stevens, which have broadly undermined the appeal of the ‘Aussie’”, said a trader from a foreign exchange company.
The currency was also knocked by the publication of a downbeat report by Goldman Sachs. The company is predicting that the ‘Aussie’ has the potential to tumble further to as low as 80 US cents next year and fall even further against Sterling as the commodity led economy slows in the wake of a waning mining boom and as the US economy looks set to recover.
“The trading performance of the Australian Dollar in recent sessions has been poor, reflecting the increasing uncertainty in China and the rhetoric by the RBA focusing on the expected decline in resources investment over the coming several years,” said a senior currency strategist at Royal Bank of Scotland.
Current Australian Dollar Exchange (AUD) Rates
The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9129
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6711
The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5602
The Australian Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.1133
The US Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.0953
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.4898
The Pound Sterling /Australian Dollar Exchange Rate is currently in the region of: 1.7849
The New Zealand Dollar/Australian Dollar Exchange Rate is currently in the region of: 0.8982
Correct as of 11:20 am GMT
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