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Sterling exchange rates up against Euro and Dollar yet down against Australian Dollar (Daniel Wright)
The Pound had a mixed day against most major currencies yesterday, making slight gains against the Euro and Dollar yet losing ground against the Australian Dollar overnight.
Unemployment levels showed an improvement to 5.3% for the U.K yet average earnings actually dropped off so employment data released in the morning more or less cancelled each other out.
The Euro is particularly shaky as it stands with fairly dovish comments from the Head of thew European Central bank Mario Draghi speaking this morning not helping and pushing the Euro to a three month low against Sterling meaning it is the best time to buy Euros in the past three months!
The Dollar has been a funny character of late and I believe that there is still scope for it to drop back towards 1.50 should the wheels remain in motion for an interest rate hike in December.
Regarding the Australian Dollar we had a big surprise as unemployment figures came out much better than expectations, leading to Australian Dollar strength overnight and pushing rates back into the 2.12 region. What is surprising at present is that the Australian economy is standing tall once again in the midst of a Chinese slowdown.
The Australian Dollar is showing as good a defence as the Australian rugby team did in the rugby world cup, much like it did in the European crisis but I am still firmly of the belief that at some point we will see a Nonu time crumble and the rate may make it back to 2.20.
If you are looking to purchase Euros, Dollars, Australian Dollars or any other major currency and you want to make sure that you get the most for your money then it is well worth you contacting me directly. You can email me (Daniel Wright) on [email protected] with a brief description of your requirements and the timescales you are working to and i will be more than happy to contact you personally.
Source: http://www.poundsterlingforecast.com/2015/11/12/sterling-exchange-rates-up-against-euro-and-dollar-yet-down-against-australian-dollar-daniel-wright/
