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 […]
AUD heads below 66 cents as virus fears grip markets
In short AUD USD falls below 66 cents for the first time since the GFC The Australian dollar has held up against the other major currencies Little economic data out this week Time Open Low High Today 0.6599 In the last week 0.6587 0.6706 In the last month 0.6587 0.6821 The AUD/USD has spent this week trading either side of 66 cents. It has been slipping lower against the US dollar for a few weeks as coronavirus fears increase. Interestingly, the Australian dollar has not fallen against all currencies. In fact, it has largely remained unchanged against the Euro, British […]
The Aussie dollar opens the week above 67 cents. But how long will it last?
In short The AUD/USD starts the week just above 67 cents The Australian dollar is up against the Euro, down against the British pound and flat against the NZ dollar and Yen Australian employment data out Thursday Time Open Low High Today 0.6725 In the last week 0.6672 0.6750 In the last month 0.6663 0.6887 Currency markets started the week how then ended it – fairly flat and quiet. The Australian dollar has barely moved against the US dollar or any of the major currencies in the last few days. This is because there has not been any unexpected news […]
AUD/USD fails to rebound back above 67 cents
In short The AUD/USD rose above 67 cents yesterday before falling again Coronavirus fears appear to be driving risk sentiment AUD/NZD hits a 2 month high Time Open Low High Today 0.6685 In the last week 0.6663 0.6771 In the last month 0.6663 0.6927 The Australian dollar rebounded above 67 cents briefly yesterday before falling back overnight. Any gains for the AUD/USD exchange rate have been limited since the outbreak of the coronavirus last month. The AUD was largely flat against most of the major currencies except the AUD/NZD, which has hit a 2 month high above 1.0450. This seems […]
Australian Dollar hits lowest point since 2009
In short The Australian dollar is at its lowest point against the US dollar since 2009 Falling commodity prices and concerns over the coronavirus have weighed heavily against the AUD RBA Governor Lowe to speak again this week Time Open Low High Today 0.6673 In the last week 0.6663 0.6771 In the last month 0.6663 0.6927 The Aussie Dollar has fallen to its lowest AUD/USD exchange rate since 2009. A weak session on Friday was enough to send the local currency to fresh 11 year lows as concerns over the coronavirus weighed on markets and the Australian currency. The RBA […]
Currency in the USA
What Currency does the USA use? 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. Banknote Denominations 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 money. Their distinctive […]
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. The currency the UK uses The pound is the official currency of the United Kingdom. The pound is represented by the symbol £ and the currency code GBP. The UK includes England, Scotland, Wales and Northern Ireland. Don’t forget, the Republic of Ireland uses the […]
Currency in Spain
A Travel Money Guide to Spain It’s on many people’s bucket lists but you’re finally getting there! A trip to Spain is on your calendar and you’re about to experience everything we love about this country, from Picasso to Gaudi, tapas to paella, bullfighting to the flamenco, and sangria on the pristine beaches. But how do you make it by with the Spanish currency? We’ve developed this guide to give you a complete lowdown on everything you need to know about the euro, currency exchange, and paying in Spain. The currency Spain uses In Spain, they use the euro […]
Currency in Slovenia
A Travel Money Guide to Slovenia It’s unlikely Slovenia will stay an untouched destination for long. Already tourists are flocking to Lake Bled but Slovenia has far more to offer than that beautiful lake. Are you ready to explore Slovenia’s Mediterranean seaside towns, jaw-dropping Alpine scenes, famous wine region, and the fairytale streets of Ljubljana? However long you’re staying, you’ll stay ahead of your budget with a better understanding of Slovenia’s money situation. The currency Slovenia uses Slovenia has been using the official monetary unit of the European Union – the euro – since 1 January 2007. The euro […]
Currency in Slovakia
A Travel Money Guide to Slovakia Slovakia is an unusual travel destination still comparatively untrammelled by tourists to Europe. Yet there’s so much to offer, from the small country’s mystical castles and charming towns to captivating mountains and stunning glacial lakes. If you’re heading to Slovakia and you’re looking for the best value, you’ll want to read up on the local currency, along with everything from bank card payments and ATM withdrawals to currency exchanges. The currency Slovakia uses Since 2009, Slovakia has used the official currency of the European Union: the euro. The euro replaces the old currency, […]
Currency in Scotland
A Travel Money Guide to Scotland Wild, windswept landscapes, long-forgotten castles, and (of course) the lake with the elusive monster. Scotland is a mystical, exciting destination. And now you’re headed there! Be better prepared for your trip by familiarising yourself with Scotland’s currency and preferred methods of payment. This traveller’s guide will help you become a little more travel savvy and ready to make stretch your savings. The currency Scotland uses Scotland uses the pound sterling, which is the legal tender throughout the United Kingdom (England, Scotland, Wales, and Northern Ireland). The British pound is represented by the symbol […]
Currency in Portugal
A Travel Money Guide to Portugal Famous for its port wine and custard tarts, its pristine beaches, and its athletic football stars, Portugal is a fascinating destination to visit. And now you’re heading there yourself! But to make your savings stretch, it’s helpful to know everything you can about currency exchange and spending in Portugal. What currency does Portugal use? In Portugal, they use the euro. Portugal was one of the first countries to adopt the euro, replacing the former currency, the escudo, on 1 January 1999. For a while, the escudo was accepted alongside the euro until it […]
Currency in Malta
A Travel Money Guide to Malta Though it’s one of the smallest countries in the world, the Republic of Malta is a star tourist destination. You’re going to have an incredible time, thanks to the island country’s warm climate, ancient temples, and crystalline waters perfect for snorkelling. You’ll get even more out of your holiday with careful budgeting. This guide will give you a complete overview of the money situation in Malta, including preferred payment methods and the best currency exchange options for value. What Currency does Malta use? In Malta, they use the euro – the European Union […]
Currency in New Zealand
A Travel Money Guide to New Zealand Heading across the Tasman to the Land of the Long White Cloud, many Australians are mistaken for thinking they can use their own currency. Be prepared for your next trip to New Zealand by getting your monetary needs sorted. Read on to learn about the New Zealand currency, including how you can get the best value for your kiwi. What currency is used in New Zealand The currency used in New Zealand is called the New Zealand dollar its represented by the symbol is $ and its 3 letter code is NZD. […]
Currency in Luxembourg
A Travel Money Guide to Luxembourg Located in the heart of Europe, Luxembourg has a surprising number of drawcards, considering its petite size. Explore forests, castles, gorges, and quaint villages all within easy reach of the capital, Luxembourg City. To make the most of your trip to one of the richest countries in the world, you’ll want to be able to stretch your savings as far as possible. Did you know there are simple ways to save money just in the way you choose to pay? What Currency does Luxembourg use? Like its neighbours Belgium, France, and Germany, Luxembourg […]
Currency in Lithuania
A Travel Money Guide to Lithuania An off-the-beaten-path destination, Lithuania delivers a beautiful balance of stunning natural beauty and charming towns. You’ll soon find yourself wandering down the cobblestone streets of the capital Vilnius and winding your way through the country’s famous green forests. You’re in for a treat in Lithuania but to get more out of your stay, it’s always handy to be savvy about your money options. This guide will give you a total rundown of all things money-related in Lithuania, from the best currency exchange options to how to pay for things. What Currency does Lithuania […]
