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PostPosted: August 13th, 2012, 1:07 pm 
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Joined: February 20th, 2012, 2:57 pm
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Currency updates by Halo Financial

An improvement in the Australian unemployment figures was just the fillip the Australian Dollar needed this week; it boosted the Australian Dollar in spite of some worrying Chinese data. It is a double edged sword for those migrating to Australia. Good news on the job front is great if you are moving to Australia to start a new career Downunder but it damages the amount of Australian Dollars you are going to get for your Sterling when you move.  You can laugh and cry in equal measure. As you can see from the chart above, this is just a continuation of a trend that has been in place since the middle of May and which looks likely to take the Sterling - Australian Dollar exchange rate back to the February low of AUD 1.4550. This downtrend owes as much to the strength of the Australian Dollar as it does to the poor old Pound though so until the UK economy starts to show signs of life or until something dire happens to weaken Chinese demand dramatically, we are likely to continue in this downward trend.


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