Australian Banks Downgraded

Australian Dollar Rate Outlook

Moody's says that its industry outlook for banking systems in Australia and New Zealand is negative, reflecting the impact of the slowdowns in global and domestic economies, but both
systems also remain robust.

These headlines helped keep New Zealand Dollars and Australian Dollars exchange rate trading near the lows overnight, and on the open in London we've sold Australian Dollars for real money names. However the dip in New Zealand Dollars rate has seen some good exporter demand as resting bids are finally filled.

Pounds to Australian Dollars = 2.0800
Euros To Australian Dollars = 1.7700
Australian Dollars to US Dollars = 0.7826
Australian Dollars to New Zealand Dollars = 1.2450

Bye For Now
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