AUD currency update: Aussie Weakens Despite Rising Iron Ore Prices

James Baxter - Sterling Suffers After UK ElectionJames Baxter
Senior Currency Broker
T: 01442 892 062

GBP/AUD has risen around one cent over the last 24 hours as traders favoured European currencies over the Australian unit. The Aussie lost ground across the board, despite rising iron ore prices, Australia’s largest export. There are no data releases to note from either country today but a speech from Mark Carney this afternoon will likely cause some movement in sterling crosses. At the time of writing, GBP/AUD is trading in the mid 1.68’s and AUD/EUR has dropped into the 0.66’s after the euro strengthened significantly yesterday.

17 06 28 GBP to AUD exchange graph

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James Baxter
Senior Currency Broker
T: 01442 892 062