Good morning all,
I hope you all had a great weekend? Here's the market update from last weeks activity.
The Aussie came within a whisker of parity during overnight trade hitting a high of 0.9993, its highest level against the US Dollar since the currency floated in 1983. Buoyed by strong commodities, high interest rates and a friendless greenback that has been sold heavily in recent weeks as the US Federal Reserve grapples with the prospect of pumping more money into their economy to avert a double dip recession.
The Pound has moved higher against the U.S. Dollar, once again thanks largely to the well-documented greenback woes rather than any underlying Sterling strength. The New Zealand Dollar opens lower today at 0.7560 after a fall during yesterday''s domestic session.
Thank you to all those members who have PM'd me with their own FX questions.
Have a great week.