Wednesday was a bad day for the Australian dollar, as it hit six year lows against sterling – despite good data being released in the morning. There is little data expected for the rest of this week, but next week should be pivotal – so we expect that, like the country’s cricket team, the Australian dollar will be hoping for better in their next test…
Sinking Canadian dollar
During an equally difficult day for the Canadian dollar, it sank to another low against sterling. A poor result from the overnight rate, coupled with continuing sterling strength, resulted in the Canadian dollar hitting the lowest rate against the British currency for almost seven years!
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