Australian Dollar Struggling Against the Pound
The Australian dollar has been struggling recently against the pound owing to a number of different reasons. The wildfires have caused a huge amount of damage to the country and this is likely to have a knock on effect on the economy. According to Katrina Ell from Moody’s ‘the risk of there being broader macroeconomic spillovers this season are high given the scale of the fires.’
Also, the chances are increasing that the Reserve Bank of Australia (RBA) will look to cut interest rates when they hold their next meeting on 4th February. Economic data has been mixed during 2019 and the RBA has already hinted that it may look to make further cuts to the interest rate.
Political issues have also caused volatility for the AUD with tensions in the Middle East rising with the recent incidents involving the US base in Iraq.


Thread: 
Thanks
Currently Active Users
Forex Forum India Statistics