The Australian Dollar resumed its losing ways on Wednesday by falling against the Pound and ending its longest winning streak in seven-week against the US Dollar.
Yesterday saw the ‘Aussie’ recover some ground against its peers following a surge in the price of commodity’s including oil and iron ore. Positive data released in China, Australia’s biggest trading partner also offered support.
The currency weakened as investors increased their bets that Thursdays unemployment data is expected to show that the jobless rate in the Oceanic nation rose to match a 2009 high in November.
Economists are expecting the report to show that the nation’s unemployment rate rose to 5.8% as the economy begins to feel the negative impact of a slowing mining boom. The high value of the ‘Aussie’ which the Reserve Bank of Australia deems as too high has also impacted negatively on the country’s manufacturing and tourism sectors.
The New Zealand Dollar softened ahead of a policy meeting by the Reserve Bank of New Zealand. Investors are expecting the Bank to keep interest rates at the record low level of 2.5%. Bets are growing that the RBNZ will raise rates to 3.5% over the coming 12 months.
Also weighing on the Australian Dollar and ‘Kiwi’ is the growing expectation that the US Federal Reserve will announce that it will begin tapering its $85 billion per week quantitative easing programme at next week’s policy meeting.
Current Exchange Australian Dollar (AUD) Rates
The Australian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9117
The Australian Dollar/Euro Exchange Rate is currently in the region of: 0.6622
The Australian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5553
The Australian Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.1015
The Euro/Australian Dollar Exchange Rate is currently in the region of: 1.5100
The Pound Sterling /Australian Dollar Exchange Rate is currently in the region of: 1.8006
Current New Zealand Dollar (NZD) Exchange Rates
The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.8276
The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6012
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5041
The New Zealand Dollar /Australian Dollar Exchange Rate is currently in the region of: 0.9078
The US Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.2081
The Pound Sterling/New Zealand Dollar Exchange Rate is currently in the region of: 1.9834
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6633
Correct as of 10:10 am GMT
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