Australian Pound Slightly Lower

The Australian Dollar has backed away from the recent highs last night ahead of an important data release from the US Central Bank tonight. It has gone from the recent high of 1.5130 to 1.5100 against the pound.

With the news that the US Dollar strengthened slightly because it was suggested the was going to be no more Quantatitative easing in QE3, the aussie dollar has fallen off slightly. With data this week coming out of the US backing up these claims, it looks as though the minutes meeting could be positive in US Dollar favour, this is why the Aussie Dollar has backed up slightly.

There is also a meeting coming up between the German Chancellor Angela Merkel and French Prime Minister Francois Hollande with regards to the future of the eurozone. This has seen euriopean market slow as they are the are a bit concerned about Greece and Spains future in the eurozone. There is still a huge question mark of how they are going to support such high debt levels.

Pound To Australian Dollar - 1.5115
Euro to Australian Dollar - 1.1895
US Dollar to Australian Dollar - 0.9580

Bye For Now

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