Aussie Dollar weaker despite rate hike

The Reserve Bank of Australia put interest rates up overnight as expected – although comments that they may pause the cycle of higher rates in December led the Australian Dollar to weaken off slightly.

Mid-market rates are now comfortably back above 1.80.

If you are transferring money to Australia contact your currency broker to discuss your options – higher interest rates in a country usually lead to a more expensive currency and it is likely the RBA will raise rates again in January, if not December.