020 7898 0500- The Australian Dollar has had a great week across the board. Encouraging growth figures as well as a better-than-expected trade balance showed investors that the Australian economy is in a much healthier position than expected. The Australian dollar gained nearly 4 cents in the week against sterling, and just over a cent against the US dollar.
- The Japanese yen also had a busy week. Negative capital spending data was followed by the Bank of Japan voting to keep monetary policy on hold. However, it may well need to take fresh action to try and overturn an economy that contracted nearly 7% during the second quarter.
- Canada reported a larger-than-expected trade surplus of CAD2.6bn, with exports exceeding imports. This shows that an export-led recovery is taking place in Canada, and that exports are a growth engine for the Canadian economy.
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