Aussie Dollar weaker despite rate hike
28 July, 2011
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.
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