BestExchangeRates Australia Compare & Save on Foreign Exchange

28 NovIn recent currency market updates, FX analysts are predicting a rise for the Australian dollar (AUD) in the coming years. This projection is influenced by various factors such as interest rates, commodity prices, and risk appetite. The interest rate differential between Australia and other countries will play a crucial role in determining the AUD's value. While the Reserve Bank of Australia (RBA) has been slow to raise rates compared to other central banks, this is expected to change in 2024. As other countries potentially cut rates sooner than Australia, the interest rate differential is anticipated to contract, supporting the value of the AUD against major currencies like the USD, EUR, and GBP.

The AUD has shown signs of strength in November, reaching 90-day highs against the USD near 0.6624. This level is 3.0% above its three-month average, with the currency pair trading in a stable range of 5.1% from 0.6302 to 0.6624. Against the EUR, the AUD is at 14-day highs near 0.6037, just 0.6% above its three-month average. The range for AUD/EUR has been stable at 3.3% from 0.5887 to 0.6083. Similarly, the AUD/GBP exchange rate is slightly above its three-month average at 0.5238, with a stable range of 4.9% from 0.5028 to 0.5272. Lastly, the AUD/JPY stands at 98.21, which is 2.7% higher than its three-month average, with a stable range of 5.3% from 93.59 to 98.52.