Newsletter
August 2018 Newsletter
The Australian Dollar holds but the downside beckons
The Australian Dollar has held its ground up against the American Dollar in this term as the turmoil in the global forex market eases.
This quarter the Australian dollar was at a steady 72.20 US Cents, after being stuck at a high of 72.03 US Cents for the past 19-months.
However, we may be in for a fall in our currency soon due to the tensions that are currently present in our global trade market, which solely benefits the US. This is not necessarily a bad thing for Australian businesses and the economy, as a slight drop in our rates will allow for some economic growth and inflation.
The currency is down 0.3% for the week after a 1.4% drop the week before, but thanks to the Turkish Lira becoming steady and Chinese Yuan stabilising at 7.00 per US Dollar, the Australian currency was able to stay at its high for this quarter.
Read the full article at News.com.au here: https://www.news.com.au/finance/business/breaking-news/aust-dollar-holds-but-downside-beckons/news-story/ef8366c17cdfedefeb1c4fa4b13bab3a