Following on from Tuesday’s gains, the Australian dollar continued to strengthen throughout yesterday on the back of inflation figures released early in the morning. Despite being marginally down on the previous quarter, the figures still showed levels to be high, furthering speculation that the central bank will turn to a hike in interest rates in order to cool things off a bit.
Other standout performers yesterday were the emerging markets, with the South African rand and Turkish lira doing particularly well off the back of strong growth reports. Central banks across the globe are opting to keep money cheap for the time being, providing support for traders in the search of higher-yielding assets – good news for emerging market economies.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.