Tuesday, August 28, 2012

Australian Dollar Drops Off

 The Australian Dollar is lower over the weekend, due to cautious investors ahead of the summit of Central Bankers next month. There are still strong rumours that Quantitative Easing is on the cards for next month and that further economic stimulus will cause the dollar to drop considerably. 

IG Markets institutional trader Chris Weston said it is not just the dollar that has been falling ahead of the Jackson Hole get together.

"It's everything across the curve, we've all seen risk currencies falling across the day," Mr Weston said.

"It looks like we're not going to get any strong definitive rhetoric from Ben Bernanke this weekend, he might lay out the policies he has at his disposal but to get a clear framework for QE3 from Jackson Hole is probably less likely and people are just taking a few of those profits off the table today."


Pound To Australian Dollar - 1.5195
Euro to Australian Dollar - 1.2032
US Dollar to Australian Dollar - 0.9637

Bye For Now

IMS Foreign Exchange
Buying Australian Dollars? Buy Australian Dollars at the Best Australian Dollar Rates!

Buy Travel Money Australian Dollars?

Contact IMS Foreign Exchange + 44 207 183 7920

No comments: