Last night the U.S Federal Reserve led by Chairwomen Janet Yellen kept rates on hold for a third consecutive month at 1.25% while intimating that one further rate hike was still on the cards for 2017, while economists have predicted three to four in 2018 – of course dependent on inflation figures. AUD/USD fell around 100 points on the more upbeat than usual Fed but has recovered some lost ground in the early hours of this morning.
Ahead today is the Bank of Japan latest interest rate decision, so for those of you looking to purchase JPY you may wish to do this ahead of the announcement around 1pm to avoid downside risk.
AUD EXCHANGE RATES:
AUD/USD – 0.8027
AUD/GBP – 0.5946
AUD/EUR – 0.6750
AUD/NZD – 1.0913
AUD/JPY – 90.231
DATA RELEASES TODAY:
JPY – BOJ Interest Rate Decision after 1.00pm
AUD – RBA Gov Lowe speaks at 3.10pm
***Above rates are indicative wholesale rates and intended as a guide only***
Sign up for a Compass account today and access some of the most competitive rates in the business and arguably the best service.
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Patrick Downes
Senior Corporate FX Dealer
Phone Patrick – 0431 278 632
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