020 7898 0500Yesterday was a good day down under as the Australian dollar regained a lot of lost ground from the day before. The dollar took a hit in line with the Chinese yuan as the Chinese government consciously weakened the yuan on Tuesday. Sterling hit 2.15 against the Australian dollar early in the morning, a rate that could only be matched once in the last 6 years! However, steady Australian data in terms of consumer sentiment and the wage price index contributed to the dollar ending the day 0.6% better off. Quite a remarkable turnaround.
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