Yesterday was a strong day for the Australian dollar as it gained nearly 2 % against sterling. Encouraging trade balance and retail sales data led to early morning strength, with the latter figure reported at nearly double that of last month’s. For the first time this year, the Reserve Bank of Australia rate statement no longer demanded a lower Australian dollar. Speculation of a potential rate hike in the near future may be a step too far.
Unfortunately for the Swiss franc, it was another poor day, as we saw it hit record lows for 2015. Just over half a percent shift in the wrong direction saw the franc stay comfortably above the 1.5 mark. Today we see Consumer Price Index (CPI) data released in the morning – a measure of inflation, it is forecast to fall from last month’s figure.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.