Currency Note Worldwide

Australian dollar buoyant

By Smart Currency October 16th, 2013

Elsewhere, we saw the Canadian dollar’s fortunes reverse yesterday as news came out of the US that a resolution to the government shutdown may be imminent. The Canadian currency hit one-week highs against its US counterpart yesterday after having struggled over the last seven days, with markets fearing the implications that a US loan default would have on the Canadian currency. The Australian dollar showed strength yesterday, hitting the highest levels since June after the release of minutes from the last central bank meeting. The minutes gave little mention to the possibility of further interest rate cuts before the end of the year, and traders reacted accordingly. The New Zealand dollar fell against the Australian for the first time in three days after the governor of the New Zealand central bank stated that mortgage-lending restrictions could reduce the magnitude of future rate-rises. Looking forward to today we have manufacturing data out of Canada. Get in touch with your trader for a live market rate.