Currency Note Worldwide

Poor unemployment data undermines Australian dollar

By Smart Currency September 13th, 2013

In other news the Australian dollar struggled yesterday as poor employment figures were updated for the month. This data pushed the Australian dollar up to over 1.70 against the pound. The Australian dollar has really seen a dramatic fall in the last four months trading from 1.50 in May to its current level. This can be partially accredited to poor Chinese growth figures and also its owns stalling economy not growing at anticipated levels, we saw Mondays release of Chinese CPI figures confirm this. The New Zealand dollar on the other hand finished the week on a positive note following Thursdays data and an increase in risk appetite in the market. This change in sentiment in the FX market also helped to strengthen the South African rand and both currencies may well have strengthened throughout the week as it becomes less likely the US will be forcing military intervention on Syria, at least until the UN has confirmed its findings. Finally, the Japanese yen never really recovered as it started the week of on the wrong foot following poor GDP figures which saw it fall for most of the week. Call now for a live rate from the market.