- The Australian dollar remained higher than expected even after the recent decline in the last few weeks. The Assistant Governor of the Reserve Bank of Australia said on Tuesday that with the Aussie dollar higher than expected, it is still likely to remain at those levels as Europe, in particular, continues to struggle. Chinese data out this morning could be the only factor that would be able to affect the Aussie dollar’s increasing strength in the short term.
- The Swiss franc continued to strengthen across the board today as it is regarded as one of the ‘safe haven’ currencies, almost dropping as low as 1.50 to the pound. As the world economy continues to struggle, currencies such as the Swiss franc or the Japanese yen will always do well in these testing times.
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