Australian Dollar

Australian dollar is so low

3 Big reasons the Australian dollar is so low

  There are 3 main reasons the Australian dollar is so low and they are all have one thing in common – China. China is Australia’s largest trading partner, not just for commodities like iron ore and coal but also for our other important exports like tourism and education. The impact of the coronavirus in China has disrupted the Chinese economy, lowering the demand for commodities Chinese student and tourist numbers have drastically fallen Market panic has made ‘safe haven’ currencies like the US dollar (USD) stronger and ‘commodity’ currencies like the Aussie dollar weaker One of the main reasons […]

Aussie dollar continues to bounce higher as US dollar weakens

In short AUD/USD moves higher after a surprise interest rate cut in the US AUD/NZD hits a 4 month high Stronger than expected Q4 GDP data released yesterday Time Open Low High Today 0.6625 In the last week 0.6464 0.6637 In the last month 0.6464 0.6771 The AUD/USD has bounced higher in the last 48 hours moving more than 1 cent higher against the US dollar. The gains have largely been driven by a weaker US dollar. Yesterday, the market was surprised when the US Federal Reserve held an emergency meeting and cut interest rates. It spooked markets, sending the […]

Interest rates fall in direct response to the coronavirus

In short The RBA cuts interest rates by 0.25% to 0.50% In the first paragraph of the statement, the central bank states that it “took this decision to support the economy as it responds to the global coronavirus outbreak.” The Australian dollar went up marginally but is still between 65 and 66 cents Time Open Low High Today 0.6555 In the last week 0.6464 0.6621 In the last month 0.6464 0.6770 The Reserve Bank of Australia cut official interest rates from 0.75% to a new historic low of 0.50%. It was in direct response to COVID-19 outbreak and they stated […]

Australian dollar drops under 65 cents as pandemic fears move markets

In short The AUD/USD fell below 65 cents as soon as markets opened Monday morning It’s the first time the Australian dollar has gone under 65 cents since the GFC It’s a big week for the Australian dollar with the RBA meeting tomorrow Time Open Low High Today 0.6468 In the last week 0.6464 0.6621 In the last month 0.6464 0.6770 The Australian dollar was hammered last week, hitting an 11 year low but holding above 65 cents. As soon as foreign exchange markets opened this morning, that trend continued as the local currency fell below 65 cents for the […]

US Currency

Currency in the USA

Currency in the US What Currency is Used in the USA The currency used in the US is called the US dollar (USD) and is represented by the symbol $. It is the most recognised, traded and accepted currency in the world. Other names it is called include the ‘greenback’ (financial settings) or ‘buck’ (informal settings). US dollars are available in many different denominations. This includes seven denominations in notes, as seen in our pictures. American banknotes are made with a blend of 25% linen and 75% cotton, making them a little less impervious to wear and tear than plastic […]

UK Currency

Currency in the UK

A Travel Money Guide to the UK So you’re making the pilgrimage to ol’ Blighty. One of the best ways to prepare for your trip is to get up to speed on the UK currency. Get your money’s worth and feel a little travel savvy with this helpful traveller’s guide to the British pound. Here’s what you’ll learn: The currency commonly used in the UK Using bank cards in the UK What British pounds actually look like What the local currency will get you in the UK The foreign exchange rate on the Pound Sterling What to do with your […]