Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted March 6th, 2015 by Charles Purdy

Chinese Pounding of the Aussie

The Australian dollar weakened as China announced 7% growth, which is viewed as being “significantly” lower than the 7.5% growth target. This lower growth in China is likely to hit the Australian currency more than any other, given that China is Australia’s largest trading partner. The pressure also comes from the Reserve Bank of Australia’s dovish forward prediction with regards to the interest rates. China’s plans to run its biggest budget deficit in 2015 has failed to provide any support to the Australian currency.

Turkish Lira Reached All Time Low

The Turkish lira had hit an all-time low as concern mounted over the President’s battle with the central bank, causing the currency to lose 10% of its value so far this year. Investors have been rattled by Erdogan’s demands that the central bank, which is battling inflation as well as the weak lira, must deliver sharper interest rate cuts.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Comments are closed.

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus