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HISTORICAL DETAILS
% Change
1 Wk -0.50%
1 Month 0.43%
3 Months 0.73%
6 Months 6.69%
1 Year 19.89%
52 WEEK
High 1.1012
Low 0.8634
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.07
Q3 2011 1.07
Q4 2011 1.04
Q1 2012 1.03
DAILY DETAIL
Friday’s US session saw the AUD give up some ground on the back of continued fears surrounding the state of the global economy, in particular the precarious debt positions of both Europe and the US. It also fell after a contentious forecast from Westpac, which predicted that the RBA would soon embark down a path of cutting Australian interest rates. Having as recently as three months ago forecast two to three rate hikes for the Australian economy in 2011, Westpac has done a massive about-face, calling for one 25 basis point cut in December, with 100 basis points to be cut from the cash rate by the end of 2012. Having ended the Australian session around the 1.0705 mark, the AUD drifted to a US session low of 1.0619, before recovering some ground to close at 1.0653. Upon reopening for Asian trade, concerns about the global economy and the Australian political landscape have continued to weigh on the AUD, which has plunged below the 1.06 mark. Cameron Peacock, Australia
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