The Australian Dollar hit a 25-year high of 98.49¢ in July and has since plunged 34%.

Foreign Exchange - Australian Dollar Outlook

After the Reserve Bank of New Zealand cut rates by a mind-blowing 150 bp, the NZ
dollar exchange rate fell dramatically by over 5%. Some Foreign Exchange analysts say the Australian dollar is next, with the Reserve Bank meeting next Tuesday (Feb 3) and probably cutting rates by 1% to 3.25%. After that another 1% cut is in store to 2.25%. Bloomberg reports 3.25% would be the lowest cash rate target since targeting began in 1990 and the lowest since 1964. A Standard Chartered foreign exchange analyst predicts the Australian Dollar will fall as much as 15% by end-June or about 60¢, before recovering to 72¢ by year-end.

The Australian Dollar hit a 25-year high of 98.49¢ in July and has since plunged 34%.

Bye For Now

Barbara Rockefeller

Pounds to Australian Dollars exchange rate currently 2.2700

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