Currency Note Worldwide

Bad day for the Australian dollar

By Smart Currency April 28th, 2016

The Australian dollar suffered yesterday as their Consumer Price Index (CPI) data was released at a far lower figure than expected; this was 0.5% below the forecast, and actually reported deflation over the last quarter. These figures have led to speculation that Royal Bank of Australia will have to continue cutting interest rates – and this has caused the Australian dollar to drop nearly 2% against sterling, making it the best time to purchase the Australian currency in six weeks, as the RBA may well reduce interest rates further than thought.

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