Monday was a bad start to the week for the Swiss, who suffered from poor inflation data in the morning. Their retail sales data was better than expected, but this failed to counteract the downward trend and the Swiss franc hit a two week low against sterling. With no notable releases out of Switzerland today, it is likely that it will be events in other nations that affect its performance.
The Australian dollar however experienced a day of contrast, fighting its way below the 2.00 mark against sterling, with similar patterns against the US dollar. Despite this initial strength, both the British and American currencies regained their lost ground as the day drew to a close. Today sees the early morning release of Australia’s Monetary Policy Meeting Minutes – usually a good indicator of where they plan to set interest rates, and this is directly linked to the strength of their currency. Positive information here could see the Australian dollar prosper.
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