Currency Note Worldwide

Boost for Australian dollar

By Ricky Bean June 8th, 2016

The Australian economy’s cash rate remained the same as it was last month’. As a result the Australian dollar rose to a one-month high, climbing by over 1% against its American counterpart. The chance of an interest rate cut by the end of the year has fallen by 20%, down to 55%. The weakening of the Australian dollar of late means that the Australian economy has been buoyed by the fact that its exports and tourism industries have become more affordable. However, if the exchange rate keeps appreciating then this could be seriously affected.

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