The parity any more so is far for the Australian after achievement 0.99 morning at the auctions in London that became a maximum level from the moment of currency control cancellation in 1983. Besides long recession of dollar, much stronger were the main catalyst at night, than it was expected, the data on employment (+50000 work places for last month). The chairman of the Central Bank of Australia Stevens has assumed recently that the further toughening of a monetary policy can be necessary for economy. The new data on work places has essentially raised probability of increase of interest rates next month. The Australian remains the winner on growth among principal currencies from the middle of year; he has grown on impressing 18 % against US dollar and on 12 % against pound. Along with positive internal bases and a favorable difference in interest rates, the diversification of currency holdings of the Central Bank aside from US dollar to the Australian dollar proceeds, as the basic is for its dizzy height. Considering recent growth, it would be surprising, if we haven't seen parity in the near future.
Abundance of key levels within reach of various currency pairs amazes now. Euro and 1.40, along with parity as on AUD/USD, and USD/CAD, together with level at 1.60 a cable. The dollar index fell seven of eight last days, and the euro was the obvious winner among principal currencies for this period. The appreciable champion on the other hand is the pound to which there was a support when the markets waited for budgetary decisions, but the most part of time it fell because of prospect of the further quantitative mitigation. Don't expect much from signals in this area today though the committee meeting report on the monetary policy in some weeks can change a situation in a root.
Translate this page
