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Australian dollar update – 14/01/2013


Guest John From Moneycorp

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Guest John From Moneycorp
The Australian dollar strengthened by a quarter of a cent against the pound and by one cent against the US dollar. Against the New Zealand dollar it was down by three quarters of a cent. Both the Aussie and the Kiwi dollar were helped by news from Japan. The new government there announced another package of stimulus, this one worth ¥10.3 trillion (£72bn). Investors believed it would mean more orders for Australian exports.
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Guest John From Moneycorp

Sterling is weak at the moment due to worries ahead of fourth-quarter growth data – this is reflected in the current pound/Aussie dollar exchange rate.

 

There is a lot of concern over whether the UK is heading towards another recession - the risk of a downgrade to Britain's triple-A credit rating is also adding to the worries over the UK economy.

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