020 7898 0500- Last week the Australian dollar ended with a whimper as it hit a fresh eight-year low. Now trading comfortably over the 2.1 mark, the currency continues to weaken – by 16% against the pound since the start of the year. This week there are important data releases starting on Thursday, when Reserve Bank of Australia (RBA) Governor Stevens speaks. Economists will be listening for any hints of when interest rates will be changed, as this can often cause fluctuations in the market. The quarterly Producer Price Index (PPI) is released on Friday and Australia will be hoping for some positive results or risk following the continuing trend Down Under.
- It’s been similar fortunes for the Japanese yen as it hovers around an eight-year low against sterling. This week is a busy one for the Japanese economy, with several data releases. However, very few carry much importance and it may be the retail sales figures on Wednesday that carry most weight. It is more likely that key events from other nations will have a stronger bearing on the currency
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.
