It’s been a torrid week for the Australian dollar as it continually weakened against sterling to reach levels last seen in August 2009. A catalogue of poor data this week, including weakening private capital expenditure data yesterday, have all played a part in the poor performance of the Australian currency.
It hasn’t been much better for their cousins across the sea. The start of the week saw some positive trade balance data for the New Zealand dollar but it had no real impact on the currency’s performance against sterling. And although it is only currently at a one-week high, it’s at a level we not seen in four years.
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