AUD to INR Forecasts
A decrease in AUD/INR is expected in 2020, and that's bad news for Indian expat workers, who represent one of the largest groups remitting money from Australia.
AUD to USD Forecasts
NAB have increased their AUDUSD 2020 forecast to US74c. AUD/USD forecasts are influenced by three factors; the coronavirus impact on economies, changes in the delta between interest rates in Australia and the US and also the trade war between China and the US.
AUD to JPY Forecasts
The FX market's bellwether for risk sentiment, AUD/JPY, is expected by NAB at ¥78 at the end of 2020.
AUD to EUR Forecasts
Should post-Brexit clarity emerge in 2020, euro strength should follow possibly resulting in lower AUD/EUR rates.
AUD to NZD Forecasts
AUD/NZD forecasts are influenced by three factors; the relative coronavirus impact on both economies, changes in the delta between interest rates in Australia and New Zealand and also the trade war between China and the US.
GBP to AUD Forecasts
The effects of the coronavirus pandemic plus success or failure of post Brexit negotiations will dominate GBP to AUD trends and forecasts in 2020.
AUD to SGD Forecasts
Forecasts and predictions for the AUD/SGD exchange rate change all the time, affected by news events and relative sentiment towards the Australian and Singapore economies. This continually updated article has any recent AUD to SGD bank forecasts, recent trends and historic rates for both currencies.
AUD to HKD Forecasts
The AUD/HKD rate is directly influenced by the AUD/USD as HKD is pegged to USD.
AUD to THB Forecasts
In 2020 currency forecasts are primarily influenced by the perceived relative coronavirus impact on economies and the success of government's response to the pandemic.
Revolut Card in Australia – Review
We review Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate.
Australian Dollar Forecasts – 2020 Overview
Forecasts and predictions for the Australian dollar change all the time, affected by news events and relative sentiment towards the Australian economy. This continually updated article reviews AUD bank forecasts and popular cross-rate trends.
Australia Post Exchange Rates Compared
In this article we take a look at Australia Post exchange rates and foreign currency services. Getting your travel money from the local Auspost branch is convenient but with a little planning (and ordering online) you can also save money for your next trip abroad.
Travelex Exchange Rates Australia – BER Review
In this article we take a look at Travelex Australia exchange rates and foreign currency services. Getting your travel money from the local Travelex branch is convenient but with a little planning (and ordering online) you can also save money for your next trip abroad.
XE Money Transfer – BER Review
XE works on razor thin margins for money transfers to more than 100 countries and nearly always guarantees a fantastic deal. Transfers can be booked online and over the phone and most are processed within a single working day.
TransferWise Borderless Account – BER Review
TransferWise’s Borderless Account allows users to hold and convert funds in 40 different currencies and send and spend internationally, all at the “real” exchange rate and with exceptionally low service fees. Users can also receive major-currency payments free of charge.
WorldFirst Foreign Transfers – BER Review
WorldFirst is a market leader in the international payments space and is consistently ranked among the most reliable and cheapest money transfer handlers for four-figure sums.
OFX Global Currency Account – BER Review
OFX Global Currency Account – Independent BER Review OFX Global Currency Account: A Summary OFX has a 30-year history and is one of the largest foreign exchange specialists in the world. It offers a “Global Currency Account” that allows online sellers to hold, send and receive funds in GBP, EUR, USD, AUD, CAD and HKD. […]
Coronavirus panic drives US dollar strength
Currency rates were extremely volatile last week as the coronavirus situation worsened day by day with various countries implementing ever-tougher measures to stop the spread of the disease.
Coronavirus spread fears linger – USD strong – AUD at 11 year lows
This week the US Dollar was touching three-year highs when valued against a basket of major currencies. The greenback's traditional role as one of the safe-haven currencies is helped by a domestic economy that is largely immune to the threats of the coronavirus.
Coronavirus unnerves currency markets
The strong start to the year for "risk-on" currencies is already a distant memory.
New Year Optimism Retreats on US/Iran Tension
The threat of a proxy war between the US and Iran in Iraq has pared back some of the recent gains of "risk-on" currencies.
Disruptors Challenging Australian Banks in Forex Price and Service: ACCC Report
Key Takeaways from the ACCC inquiry into currency conversion services. BestExchangeRates referenced among comparison sites playing an important role in customer awareness of the excessive currency margins charged by banks.
AUD/GBP Between a Rock and a Hard Place – USD Strength
Both the Australian dollar and British pound sterling have had a hard time of late caught between the rock of the China/US trade war and the Brexit hard place.
Australia Cuts Interest Rates to Record Low
The RBA has cut Australian interest rates to a record low of 1 percent in an effort to boost inflation. The Australian dollar is slightly stronger following the widely expected decision but is expected to lose 5–7 percent of its value before year-end.
GBP’s Bright Start to the Year Is a Distant Memory
The British pound was the worst-performing major currency in the April-June period and remains “impossible to forecast” amid a Tory leadership battle that might force "no deal” or a general election.
Australians Swerve Thai Holidays with Exchange Rates in the Gutter
With AUD-THB at a 10-year low, Australians travelling this year to Thailand's wildly popular resorts are facing holiday costs 50 percent higher than those paid in 2012. With exchange rates as they are, those in Oz are choosing better-value destinations.
Canadian Dollar in the Spotlight After Surging to 16-Week High
Lifted by oil, economic data and the Fed, the Canadian dollar has soared against the US dollar to a 16-week high and has reached even more impressive milestones against the pound, euro and Australian dollar.
Booming Commodities Can’t Save Australian Dollar
The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.
Sterling Nears 5-Month Low Versus Euro
The UK economy is shrinking, as is the pound, which is buying less than 1.12 euros for the first time since mid-January. Investors are becoming increasingly unsettled over Brexit, particularly with Boris Johnson a hot favourite to become the UK's next prime minister.
US Dollar at 10-Week Low After Payrolls Disappoint; Fed Rate Cuts Now a Certainty
Investors dumped the US dollar on Friday after US jobs data came in well short of estimates and cemented expectations for lower US interest rates. In the coming months, the greenback might maintain its value based on safe haven inflows and looser monetary policies in other parts of the world.
SendFX Review
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Australia Cuts Interest Rates for the First Time in 3 Years
The Australian dollar remains stable in the high US$0.69s following the RBA’s decision on Tuesday to cut Australian interest rates to a record low of 1.25 percent.
Pound Could Be 10 Percent Higher at Year-End as No-Deal Brexit Risks Overblown
A “no deal” Brexit remains highly unlikely according to experts at Goldman Sachs and ING, and as such the pound is grossly undervalued and could rise strongly from current levels.
SGD, MYR at 6-Month Lows After Singapore, Malaysia Added to U.S. Currency Watchlist
The currencies of Malaysia and Singapore were trading at 6-month lows against the dollar on Wednesday following news that the US had added the Southeast Asian nations to its watchlist of suspected currency manipulators.
Westpac Cuts Australian Dollar Forecasts, Expects Interest Rates to Halve This Year
The struggling Australian dollar will lose a further 5 percent of its value against the US dollar and pound before the year is out, and 3 percent against the euro and New Zealand dollar, Westpac predicted on Friday.
Sterling in Trouble: Eighth Day of Losses Takes GBP to 3-Month Low
The British pound fell on Wednesday towards a 3-month low against the euro and US dollar as attention turned back to Brexit and after lower-than-expected wage growth lessened prospects for a Bank of England rate hike.
Australian Dollar at 4-Month Low After China Announces Tariff Retaliation
The US-China trade war is hotting up and that’s bad news for the Australian dollar, which slipped on Monday to a 4-month low against the dollar, euro and yen.
Canadian Dollar Shockingly Undervalued, Analysts Say
The Canadian dollar might be worth considerably more towards the end of this year based on research by Scotiabank analysts who describe the currency as being “egregiously” undervalued.
Australian Dollar Leaps as RBA Stands Firm on Interest Rates
The RBA left interest rates on hold at 1.5 percent on Tuesday, spurring big gains for the Australian dollar, which had slipped beforehand to long-term lows against several major currencies. Roughly half of economists had expected rates to be cut by 25 basis points.
AUD/INR: A Perfect Storm for a Higher Exchange Rate
Seasonal weakness, election uncertainty, strong technical support and oil market complications should be more than sufficient to spur an AUD/INR rally into mid-year.
British Pound in Great Form with Brexit Troubles Fading
Constructive Brexit talks between UK politicians have imparted a sense of renewed optimism that has lifted the British pound to a 2-week high against the dollar and to a 3-week high against the euro.
India Pursues Complete Ban on Digital Currencies
Cryptocurrencies and the blockchain technologies that support them are at the forefront of remittance-industry innovations, but these are under attack in India, where a complete crypto ban will be proposed in May.
Dollar Turbocharged by Economic Data; At Long-Term High Versus Euro, Franc and Krona
A turbocharged US dollar is likely to be “stronger for longer” after reaching long-term highs against a host of major currencies, including the euro, Swiss franc and Swedish krona.
Aussie dollar in the trenches after low inflation result
The RBA has resisted cutting interest rates lower than the record 1.5 per cent, however, this week's lower than expected inflation data could make a cut inevitable.
Swiss Franc Slumps to 6-Month Low Versus Euro
The Swiss franc continued its shocking run of form on Tuesday, slipping against the euro to its weakest level in 6 months.
8 Percent Drop Coming Soon for Australian Dollar; RBA “Wants a Weaker Currency”
HSBC has reaffirmed its US66¢ year-end forecast for the Australian dollar, thereby signalling an upcoming 8 percent slide in the world’s fifth most traded currency.
SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection
What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.
Commodities Boom Will Take Australian Dollar to US$0.74
The Australian dollar is forecast to climb to US$0.74 in the coming months, supported by a commodities boom that has seen the price of Australia’s largest export, iron ore, climb to a 5-year high.
Brexit This Year Now a Toss-Up, Bookmakers Say; What Next for Pound?
With the chance of a 2019 Brexit now reduced to 50 percent, the pound’s value is likely to remain capped for the time being, most likely near US$1.34, experts say. On the downside, US$1.24 is likely should the latest Article 50 extension be used to hold a UK general election.
Euro to Sink to US$1.08, Says ANZ
The euro hasn’t traded as low as US$1.08 since the early portion of 2017, but that’s where we’re heading within the next 3 months, analysts at ANZ believe.
AUD/NZD at 10-Week High and “Likely to Run Higher From Here”
The Australian dollar-New Zealand dollar exchange rate rose on Friday to a 10-week high as traders continue to make bets on monetary policy divergence between the RBA and RBNZ. Even higher rates are expected by teams at TD Securities and Societe Generale.
Bitcoin More Popular Than Visa, MasterCard for Large Payments; Recent Price Surge Only the Beginning (DataLight)
Research has highlighted the popularity of bitcoin for large payments, including those across borders. By transaction volume, bitcoin has nearly caught up with Mastercard and may in future overtake the market leader, Visa. In the markets, bitcoin’s sudden surge earlier this week is yet to be explained.
Get Ready for Sterling’s “Big Finish”; Australian Dollar at 2-Week Low
Goldman Sachs is backing British MPs to soon find a way through the current political deadlock, after which a “big finish” is expected by the British pound. Meanwhile, pessimism surrounds the Australian and New Zealand dollars, both of which have fallen to multi-week lows.
Banks Bet Against Aussie, Kiwi Dollar
For much of this year, banks have been betting on further Australian dollar deprecation, but after last week’s RBNZ shocker, they have also given a thumbs down to the New Zealand dollar.
Shocking Loss for New Zealand Dollar After RBNZ Says a Rate Cut Most Likely
The New Zealand dollar plummeted on Wednesday after the RBNZ said its next move on interest rates was likely to be a cut.
Benign Brexit Outcome Most Likely; Pound to Strengthen, Says Bank of America
Developments this week make a “benign Brexit outcome” the most probable and offer reason enough to be favouring British pound appreciation for the foreseeable future, analysts at Bank of America Merrill Lynch have said.
Australian Dollar: Last Week’s Price Action Suggests Further Declines
Given what should have been obvious advantages, the Australian dollar’s inability to gain against the US dollar last week is an ominous sign that suggests further Aussie depreciation in the near term.
US Dollar Plunges After Fed Signals No Rate Hikes This Year
The US dollar crumbled on Wednesday after the Federal Reserve signaled it would keep interest rates unchanged throughout 2019, thereby backtracking on the two rate hikes it predicted in December.
CBOE Ditches Bitcoin Futures Amid Reduced Interest
Amid declining interest, the Chicago Board Options Exchange, or CBOE, has announced it will no longer offer bitcoin futures contracts once current contracts expire in June.
Canadian Dollar to Lose a Further 5 Percent, Will Soon Buy Only US$0.71 (TD Securities)
Prospects for the Canadian dollar have turned “considerably to the downside” and the currency is likely to lose 5 percent of its value this year, TD Securities has said.
Australian Dollar Still Struggling; AUD/GBP at Lowest Since 2016
A slight advance in AUD/USD this week to $0.705 is hardly cause for celebration; however, the stability this represents following 3 weeks of losses would normally signify reduced currency pessimism—in this case, it doesn’t even do that.
Pound Falls From 21-Month High After Doubts Cast on May’s “Legally Binding” Assurances
The pound fell rapidly away from long-term highs on Tuesday morning after Britain’s Attorney General said that the “legally binding” assurances secured on Monday night by Theresa May merely “reduced the risk” of the UK being trapped in a permanent backstop.
Australian Dollar, Euro Get Lift from “Too Bad to Be True” US Data
US jobs growth of only 20,000 in February, versus expected growth of 180,000, has allowed rest-of-the-world currencies to claw back ground against the US dollar which, until Friday, had been on a stellar run.
Canadian Dollar Still Friendless After GDP; Fair Value Much Lower
After a friendless Friday, the Canadian dollar has continued to lose value at the start of the new week. Now worth C$1.332 per USD, the loonie is at a 12-day low, but it has far further to fall if CIBC’s fair value estimation of C$1.4 is anything to go by.
JP Morgan: Aussie Dollar to Face Hard Times If No Let-Up in Housing Decline
Investors should expect the Australian dollar to face “global scrutiny” and “material downward pressure” should conditions in Australia’s housing market continue to deteriorate, JP Morgan’s head of FX has said.
Sterling Leaps to 21-Month High on Prospects of Brexit Delay, Second Referendum
The British pound has hit a 21-month high against the euro following increased speculation of a delayed Brexit and after Britain’s opposition party leader said he would now back a second referendum on EU membership.
Australian, New Zealand Dollars Rise Most on Hopes for US-China Trade Deal
The Australian and New Zealand dollar currencies have been the best performing majors in recent days. Each has gained nine-tenths of a cent against the US dollar since Thursday, with appreciation fuelled by the market’s upbeat mood towards a potential US-China trade agreement.
Pound at 2-Week High Ahead of May-Juncker Brexit Meeting
The British pound was in high demand on Tuesday ahead of an important meeting between British PM Theresa May and EU officials, at which investors are hoping for a Brexit breakthrough.
Euro to Strike 20-Month Low This Week; $1.12 Beckons
Those intending to pick up euros this week should consider heeding warnings offered by MUFG. The bank expects the euro to move towards cheaper levels in the coming days and it would therefore be unwise to pay rates offered on Monday.
New Zealand Dollar Jumps After RBNZ Says It Won’t Lower Interest Rates
The New Zealand dollar leapt on Wednesday in response to the latest remarks from the RBNZ, which said that interest rates in New Zealand would not be lowered this year or next, wrong-footing investors who had adjusted FX positions to account for lower rates.
Dollar Optimism Drives Markets
Against a basket of currencies, the US dollar struck an 8-week high on Tuesday after US lawmakers reached an agreement on border security funding and as hopes build for a breakthrough in US-China trade talks.
Cryptocurrencies Soar: Litecoin Gains 30 Percent
Cryptocurrencies exploded on Friday for reasons not fully understood by analysts. Litecoin was among the day’s stars, gaining 30 percent. Brokers, though, remain skeptical about the rally’s sustainability.
Tough Week for Australian Dollar as RBA Disappoints on Growth, Interest Rates
Further losses on Friday cemented the Australian dollar’s status as the week’s worst performing major currency. Depreciation has been driven by Australia's central bank, which has slashed forecasts for 2019/20 economic growth and signaled it could lower interest rates.
Pound Rejects Lower Prices After Bank of England Slashes Growth Forecast
The pound rejected sub-US$1.29 levels on Thursday even after the Bank of England slashed growth forecasts, indicating underlying strength. Analysts say that the pound will rally to buy US$1.40 should Theresa May secure the EU concessions needed to pass her Brexit withdrawal agreement.
Australian Dollar in the Headlines This Week; Latest RBA Forecasts Due
With a number of Australian data releases, RBA statements and forecasts on the economic calendar, the Australian dollar is likely to be in the headlines this week, for good or bad.
Pound Reverses from 3-Month High After MPs Reject a Delayed Brexit
The pound is back trading in the US$1.30s after British MPs rejected a proposal to delay the UK’s exit from the European Union, which analysts say increases the likelihood of "no deal."
AUD Steady Ahead of Inflation, FOMC and Trade Talks
The Australian dollar was little changed on Tuesday despite what should be AUD-supportive remarks from an RBA board member. The Aussie remains subdued ahead of important inflation data, a Fed meeting and a second round of trade talks between the US and China.
Investors Ditch US Dollar Ahead of Fed Meeting; GBP/USD at 15-Week High
The US dollar recorded its largest one-day fall in nearly 3 months on Friday as the attention of traders turned back towards an increasingly cautious Federal Reserve.
Researchers Make Sweeping Cuts to Australian Dollar Forecasts
Within recent days, a host of experts have cut forecasts for the Australian dollar, indicating a new wave of pessimism on what is already the past year's worst-performing major currency.
Australian Dollar to Get “Crucified,” Analyst Says
The Australian dollar could lose as much as 30 percent of its value if a bold prediction from a BNP Paribas researcher is anything to go by. Prominent risks to the Aussie include a Chinese economic slowdown and a deterioration in Australia’s housing market.
Pound Fights Back on Hopes for Soft Brexit; Thai Baht at Long-Term Highs
Despite a crushing defeat for Prime Minister May’s Brexit deal on Tuesday night and a motion of no confidence tabled against the British government—which the government survived on Wednesday—the pound is close to multi-week highs. In emerging markets, the Thai baht remains an outperformer.
Sterling at 7-Week High Ahead of Important Brexit Vote
Ahead of Tuesday’s “meaningful vote” on the Brexit withdrawal agreement, the British pound has strengthened to a 7-week high against the dollar—evidence that investors are increasingly optimistic that a soft Brexit can be achieved.
Euro Fails in Breakout Attempt, Has Mixed Outlook in 2019
Late last week, EUR/USD failed to hold gains above $1.15, disappointing traders who had hoped for a big breakout. For 2019, experts still believe in higher EUR/USD rates, although the euro will likely lose value relative to the pound on any soft-Brexit options. In the short term, too, it may be in trouble.
Australian Dollar, Canadian Dollar to Outperform; Yuan at 5-Month High
The Australian dollar has rallied strongly following last Thursday’s “flash crash” and, like the Canadian dollar, is expected to outperform its peers in the near term. Investors remain willing to take on risk but the US dollar remains soft. In Asia, the yuan is expected to weaken beyond ¥7 within the next 6 months.
Outlook for Singapore Dollar Is Bright; Swiss Franc Strong In Spite of Ultra-Loose SNB
The Singapore dollar weakened on Tuesday but is forecast to be the best performing Asian currency in 2019. In Europe, political uncertainties have driven funds into the Swiss franc, elevating its price. The SNB has re-affirmed its commitment to market interventions, which means EUR/CHF at Fr1.1 will be a difficult nut to crack.
USD Nears Peak; Oil Rebound to Send CAD Higher, INR to Record Low
For the US dollar, analysts are predicting significant weakness in 2019. In contrast, the Canadian dollar will likely strengthen amid an energy market rebound, but under the same conditions the Indian rupee will slide to a record low. Cryptocurrencies, meanwhile, are trading higher but fail to inspire confidence.
Aussie Recovers Following “Flash Crash” but Downtrend Intact
The Australian dollar is back trading in the high $0.69s following a wild and rocky Wednesday night. In just a few minutes, a market “flash crash”—blamed on a surprise earnings warning from Apple and thin liquidity—had taken the Aussie down 3.2 percent to a 10-year low of $0.675.
The Yen Is Flying; AUD/JPY, CAD/JPY at Lowest Since 2016
The yen has entered the New Year in much the same form it exited 2018. It climbed on Wednesday to fresh long-term terms highs against many major currencies and is predicted to strengthen further in both the short and long term.
Pound to Rebound Higher in 2019, Says SEB; No-Deal Brexit Unlikely
2019 will be a good one for the British pound, thinks a foreign exchange analyst at SEB. Recent depreciation is overdone, the analyst says, and will be corrected once markets begin to price in the improbability of a no-deal Brexit. Investors should expect a GBP/EUR rally into the mid-€1.17s or higher.
Undervalued Australian Dollar Higher in 2019 (CIBC); Franc, Yen at Multi-Month Highs on Haven Demand
There’s been no letup over Christmas for the Australian dollar, which continues to threaten the 70-US cents handle. The Aussie may appreciate as high as 78 cents in 2019, an expert has said. Meanwhile, safety-driven inflows have forced the franc and yen much higher, but oil prices continue to weigh heavily on the Canadian dollar.
Where Goes Bitcoin in 2019?
2018 was the year that the bitcoin dream came crashing down. The bubble that many had suspected was building in 2017 was realised and the most well-known of digital currencies lost 80 percent of its value. For 2019, prices might sink as low as $1,500, experts say, but might rally in the second half of the year.
Stock Market Rout Sends Australian Dollar Tumbling
Against the US dollar, the Australian dollar fell on Friday to within 0.1 percent of October’s low, a break of which will take the currency to its lowest level in more than 2 ½ years. Investors dumped the risk-sensitive Aussie after heavy selling in equities markets and as a US government shutdown became increasingly likely.
US Dollar Posts Worst Day in 7 Weeks After Fed Cuts Interest Rate Forecasts
The US dollar was sold heavily on Thursday in the aftermath of midweek announcements by the Federal Reserve. Though the Fed raised US interest rates by 25 basis points, as widely expected, it lowered its expectations for rate hikes in 2019, to the disappointment of dollar investors.
Australian Dollar Lacks Inspiration Following RBA Minutes, Looks Cheap Versus CAD, JPY
The Australian dollar continues to stagnate in the aftermath of Monday's RBA meeting minutes and ahead of this week’s meeting of the US Federal Reserve. Barring surprises, the Aussie is likely to remain well supported against the British pound, Canadian dollar and Japanese yen.
AUD/USD Forecast at $0.75 in 3 Months’ Time; Potential for Extreme AUD/GBP Moves on Wednesday
The Australian dollar has offered broad stability in recent days—a welcome change from last week’s sharp decline. The Aussie will likely trade higher over the coming months, Goldman Sachs has said, although anything goes for AUD/GBP on Wednesday as a vote of no confidence in the British Prime Minister takes place.
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In this Sydney CBD guide, we show you how to save money when looking for Currency Exchange and Forex services downtown in the emerald city.
Canadian Dollar the Star After Canada Adds 94k Jobs; Expect Bitcoin at $1,500
The Canadian dollar made widespread gains on Friday after Canada announced its largest increase in employment in 6 years. Meanwhile, the Australian dollar fell for a fifth day and cryptocurrencies continue downwards. In the absence of more robust earnings growth, traders shouldn’t expect much from the US dollar, CIBC has said.
Travelex & TravelMoneyOz – Who has best rates?
To help you choose between Travelex and Travel Money Oz the following live exchange rates table shows who has the best exchange rate when ordering foreign currency online.
Travel Money Oz – BER Review
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More Good News for Aussie, Kiwi; Not So Great for Bitcoin
The Australian and New Zealand dollar currencies gapped higher on Monday after the US and China agreed this weekend to suspend new tariffs on goods worth several hundred billion dollars. Meanwhile, bitcoin sank back below $4,000.
USD Slumps as Fed Signals Less Rate Hikes Ahead; AUD, NZD to Benefit Most
In a speech on Wednesday, Fed Chairman Jerome Powell signalled that US interest rates are close to “neutral.” As a result, the US dollar suffered one of its sharpest intraday falls this year.
Australian Dollar Worth 5 Percent More by Mid-2019 (CIBC)
In a note to clients this week, CIBC predicted a rise in the Australian dollar to $0.76 by mid-2019. The forecast represents appreciation of 5 percent from Monday afternoon’s quote of $0.724 and will be driven by higher Australian wages, the bank says.
Australian Dollar and Euro Heading Higher, Experts Say
Weakness in the Australian dollar since Friday is to be short-lived, experts at National Australia Bank have said. A rally in AUD/USD to 0.74 is on the cards, as are politically-driven moves in EUR/GBP and EUR/CHF towards 0.92 and 1.2.
Australian Dollar Threatens $0.73; Pound Plunges as Brexit Secretary Resigns
The Australian dollar is benefitting from disarray in Europe and upbeat employment data. The day’s biggest news comes from Europe, though, where the British pound suffered one of its largest intraday declines in recent years following the resignation of the UK’s chief Brexit negotiator.
Melbourne CBD – Best Currency Exchange Rates
In this article we show you how to save money if you find yourself looking for Foreign Cash in the Melbourne CBD.
AUD, NZD Lead the Pack; No Imminent Recovery for CAD (SocGen)
The Australian and New Zealand dollar currencies were way out in front this week on the list of top performing FX majors. The Canadian dollar, meanwhile, continues to suffer from what is now a technical bear market in crude oil. Sterling is again under Brexit-related pressure amid reports of potential UK ministerial resignations.
Hard to Bet Against USD Despite Midterms and Rough Start to November
FX markets lacked volatility on Tuesday ahead of US midterm elections, the results of which will begin to trickle in after 7pm EST. November typically represents the best month of the year for USD and recent losses arguably offer a grab-it-now opportunity to get the currency at improved exchange rates.
Australian Dollar Outlook: Huge Gains Put an End to Technical Downtrend
Just what the doctor ordered! A 1.3 cent rally on Thursday marked the Australian dollar’s best day since early 2017. A further half-cent gained on Friday morning, prior to the day’s big event, US non-farm payrolls, took AUD/USD to a 5-week high of $0.726. Only a week ago, the struggling Aussie was quoted at a 2-½-year […]
GBP, AUD, NZD Jump as UK-EU Reach Deal on Financial Services
The mood was buoyant in foreign exchange markets on Thursday following news that the UK has achieved a deal with the EU on financial services that would give London’s banks continued access to European markets post-Brexit. Together with the pound, currencies that benefit from the switch to “risk on,” like the Australian dollar and New […]
Dollar Strikes 16-Month High; Euro FX Down in the Dumps; Mexican Peso Falls Sharply
Developments outside the US allowed for the dollar to appreciate against a basket of currencies to a sixteen-month high on Wednesday. The ICE-maintained US dollar Index, which provides a weighted-mean measure of the greenback’s value against the euro, British pound, Swiss franc, Canadian dollar, Japanese yen and Swedish krona, traded above 97.0 for the second […]
Experts Turn Bullish on Australian Dollar
The Australian dollar is saying “no” to the 70 US cents level as it rallies on Thursday along with Chinese stock markets. The Aussie also continues to appreciate from long-term lows against the pound and euro, and is undervalued against the New Zealand dollar, argues Westpac.
AUD Downtrend to End with Close Above $0.72; Prepare for November USD Buying
The Australian dollar will have to overcome seasonal weakness to rally from here but a mere 1 percent rise might be all that’s needed to begin a broader recovery, analysts have said. For the US dollar, appreciation is expected heading into year-end but the trend towards de-dollarization continues, this time in Venezuela.
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Xiong Xiao, a PhD candidate currently studying and teaching at the University of Western Australia is awarded BestExchangeRate.com's first scholarship for foreign students in Australia.
Australian Dollar Steady Despite Risk Aversion, Sterling to Get Wild and Bitcoin Makes Its Move
This week’s flight from risky assets, evident from massive losses in equities, has yet to affect the risk-sensitive Australian dollar. The yen is firmer though, bitcoin has finally broken lower and options traders are paying up for protection against future sterling volatility.
Higher Interest Rates Boost USD but Spell Trouble for Asia FX
Friday’s announcement by the BLS that unemployment in the US has fallen to its lowest level in half a century further firmed expectations for US interest rates and was sufficient to drive the US dollar to fresh long-term highs against currencies throughout the Asia-Pacific region.
Australian Dollar, New Zealand Dollar Plumb New Depths; AUD/CAD at 8-Year Low
In foreign exchange markets, the Australian and New Zealand dollar currencies are highly correlated. Given recent sentiment, it was no surprise, then, to see both make fresh multi-year lows on Thursday. Market commentators see little changing for the Antipodes in the near term.
Australian Dollar Set for Double-Digit Rally; Will Be Worth 82 US Cents Next Year! (UBS)
UBS has added themselves to a growing list of experts predicting a broad recovery in the Australian dollar. Against the US dollar, the bank is offering a consensus-busting Aussie forecast of $0.82 for 2019 year-end, indicating a 14 percent rise from current levels.
Yen Falls to 9-Month Low and Era of Cheap Money Ends in Hong Kong
The US dollar was the best of the majors on Thursday—it broke to a nine-month high versus the yen and forced a retreat in the Australian dollar back to the low $0.72s. In Hong Kong, commercial lending rates have been raised for the first time in twelve years, indicating the beginning of the end for cheap money in the region.
End of “Accommodative” Monetary Policy Sparks US Dollar Volatility
The Federal Reserve raised the upper level of US interest rates to 2.25 percent on Wednesday, as widely expected, while also dropping longstanding terminology from its statement relating to the “accommodative” level of monetary policy. The dollar was volatile as a result.
Australian Dollar Has Best Week in 9 Months; Sterling Has a Shocker
A gain last week of 1.9 percent marked the Australian dollar’s best weekly performance versus the US dollar since December. The Aussie rebound continued with a touch of the $0.73 handle on Friday. Australia’s currency had been worth less than $0.71 just 10 days earlier. It settled for the week at $0.7285. Further to gains […]
Australian Dollar to Bounce Back Next Year; Investors Sense Buying Opportunity
As investors begin playing the long game, they are reconsidering their views on the Australian dollar. An inevitable tightening of Australian monetary policy, most likely next year, will eliminate one of the chief reasons for recent AUD pessimism. What was once a currency worth avoiding might now offer a heavily-discounted bargain.
Relief in Emerging Market FX After Turkey Raises Interest Rates
There was widespread relief among emerging market investors on Thursday after the Turkish central bank finally raised interest rates to protect the embattled lira. Elsewhere, the dollar lost value for a fourth consecutive day and ethereum stabilized after a ten-day fall.
AUD, CAD and NZD Continue to Fall
A better-than-expected print for Australian GDP growth was unable to prevent further Australian dollar weakness on Wednesday. After a short-lived jump on the 0.9 percent second-quarter reading (0.7 percent growth expected), the Aussie fell early in the European session to a two-year low of 71.45 US cents. In the hours following GDP, it also lost […]
Australian Dollar at Lowest Since 2016
The Australian dollar really doesn’t have much going for it. A 2.2 percent loss between Tuesday and Friday had the Aussie settling for the week at 71.9 US cents, which marked its lowest weekly close since December 2016, and it isn’t doing much better versus the euro, Canadian dollar, Swiss franc and Japanese yen. Perhaps […]
Australian Dollar Hammered on Imminent PM Change
The Australian dollar had a shocker on Thursday on the back of domestic political uncertainty. Per reports, current Australian Prime Minister Malcolm Turnbull is likely to be replaced by Peter Dutton before the week is out.
Thai Baht at 5-Month High After Dollar Stumbles on Trump Remarks
The US dollar continues to fall from long-term highs. Tuesday marked the fourth consecutive trading day of declines for the Dollar Index, which traded at a fourteen-month high of 97.0 last week. Approaching the end of Tuesday’s European session, the index had slumped into the 95.40s. The dollar was affected for the worse on Monday […]
Australian Dollar Benefits from Sales and Export Data; RBA to Dominate Next Week
The Australian dollar was the best performing major during Friday’s European session. The “Aussie” rallied by as much as 0.8 percent to rates above 74 US cents after robust Australian economic data.
US Dollar on the March; Markets Yet to Price in Full Extent of Fed Hikes, Says SEB
The US dollar made inroads against most of the world’s currencies on Thursday as trade fears forced investors into safer assets.
Gold Coast – Best Currency Exchange Rates
In this article we show you how to save money if you find yourself looking for Foreign Cash on the Gold Coast.
Best Currency Exchange Rates in Adelaide CBD
In this article we show you how to save money if you find yourself looking for Foreign Cash in Adelaide.
NZD Outlook: Inflation Data to Set the Tone for the Coming Months
Tuesday’s second-quarter inflation data will set the tone for the New Zealand dollar for the rest of the summer, say banks. With inflation risks skewed to the downside, a lower kiwi is more likely than not.
Yuan and Australian Dollar Hit by Latest Round of US Tariffs
Traders offloaded Chinese yuan and Australian dollars on Wednesday after the US government said it would introduce 10 percent tariffs on a further $200 billion worth of Chinese goods.
USD/CAD to Trade at 1.35 on Interest Rate Surprise
The Canadian dollar will weaken to 1.35 to the US dollar should the Bank of Canada surprise investors on Wednesday by keeping interest rates on hold, says the latest research report from BNP Paribas.
Double-Digit Fall for the Australian Dollar a Possibility, Says Money Manager
The Australian dollar may be in line for a double-digit fall into the “mid-60s” versus the US dollar before the summer of next year, says a senior money manager at Pendal Group.
CurrencyFair Foreign Transfers – BER Review
BER reviews why CurrencyFair is different to most of the other FX brokers out there.
New Zealand Dollar Heading to US$0.64
The New Zealand dollar will be worth only 64 US cents within the next twelve months, say economists at Westpac.
St George Bank Exchange Rates – BER Review
In this article we take a look at St George Bank exchange rates and examine how St George foreign exchange compares to other options available to you.
Commonwealth Bank Exchange Rates – BER Review
In this article we take a look at Commonwealth Bank and examine how CBA foreign exchange rates & international money transfer services compare to other providers available to you.
Westpac Exchange Rates – BER Review
We take a look at Westpac bank exchange rates and focus on how Westpac foreign exchange services compare to the best available.
ANZ Bank Exchange Rates Compared
In this article we take a look at ANZ Bank exchange rates and focus on how ANZ foreign exchange services compare to the best available.
Trump Slaps Tariffs on Allies but Calm Prevails Ahead of US Jobs Data
The big news for investors on Thursday was Washington’s confirmation that steel and aluminium products reaching the US from Europe, Canada and Mexico – all important allies – would be subject to trade tariffs. Foreign leaders raged against the decision and announced plans for immediate retaliation. On Tuesday, Washington had already announced tariffs on $50 […]
Australian Dollar Now Worth Less Than Singapore Dollar
The Australian dollar has been among the hardest hit of major currencies in recent months. Heavy losses since January have been widely reported in the financial press, with most commentaries focusing on the Aussie’s 8.6 percent decline against the
Commodities to Battle Air Strikes and Trade War for Influence on Australian Dollar
The Australian dollar, together with other risk currencies, will likely start next week under pressure following the launch on Saturday morning of air strikes on Syrian weapons research and storage targets by the US, UK and France. The strikes come after a chemical weapons attack in Douma one week ago, which killed an estimated 75 […]
Thai Baht Spurred On by Tourism; Rallies to 4-Year High Versus Dollar
Fuelled by an improvement in risk appetite and a pick-up in the number of foreign visitors to Thailand, the baht climbed on Wednesday to a four-year high of 31.1 per dollar. In doing so, the baht solidified its position as Asia’s best performing currency of the year. Volatility in the baht had dried up in recent […]
Australian Dollar Finds Its Feet After 5-Week Slump but Will End the Year No Higher, Says Poll
The Australian dollar made sweeping gains last week as investors’ preference for higher-yielding assets trumped a sequence of poor Australian economic data. The currency’s broad climb marked the end of a difficult period that had begun in late January and came as a new poll suggested a lack of FX volatility for the remainder of […]
Canadian Dollar at 2-Year Low Versus Euro as Washington Imposes Steel, Aluminium Tariffs
The Canadian dollar is on course for its worst weekly performance in more than a year as traders reassess their exposure to the currency in response to new US trade tariffs, slower economic growth and a softer oil price. At the end of the Asian business week and with much of Friday’s European session already […]
BER-News: Bitcoin below $US10K mark (again)
Among the world’s ten most actively traded currencies, it was the Chinese yuan that was leading the pack approaching the end of the Asian business week. Last week: majors all down Aussie dollar (AUD) was down last week, retreating from US0.80 cents, on Australia’s disappointing rise in private sector wages, their massive contraction […]
BER-News: Cryptos hung onto recent gains.
Last week’s much-improved US inflation data had the desired effect on US rate expectations which have adjusted to indicate a 100% probability of the Federal Reserve raising interest rates in March. Ordinarily, such a revision to expectations would fuel a transfer of hot money into US dollars, yet dollar traders continue to chart their own […]
Inflation Leads US Rate Expectations Higher but Dollar Traders Don’t Care
This week’s much-improved US inflation data has had the desired effect on US rate expectations, with the yield on two-year Treasuries climbing again on Friday, as it did on Thursday, to levels above 2.2%. Meanwhile, prices in derivatives markets have adjusted to indicate a 100% probability of the Federal Reserve raising interest rates in March. […]
FX Calm Amid Broader Market Carnage; Dollar, Yen and Bitcoin Benefit
During a week which saw global equity markets suffer their largest losses in two years and broader market volatility pick up, foreign exchange markets were surprisingly calm. A flight to safety benefitted the US dollar, which finished higher against a basket of currencies for the second consecutive week; and the Japanese yen, which at one […]
Bitcoin at $8,000 as Regulators and Facebook Strangle Optimism
Bitcoin’s tumble continued on Friday, with the cryptocurrency falling at one stage by fifteen percent to just $7,960 – sixty percent lower than December’s high just shy of $20,000 ($19,891). An afternoon rebound saw bitcoin end the day close to $8,600 but that did little to improve sentiment in the face of scrutiny from regulators […]
Best Currency Exchange Rates in Brisbane CBD
In this article we show you how to save money if you find yourself looking for Foreign Cash in the Brisbane CBD.
Perth CBD – Best Currency Exchange Rates
In this article we show you how to save money if you find yourself looking for Foreign Cash in the Perth CBD.
Canadian Dollar, Australian Dollar at 10-Week Highs on Commodities Strength; Rand and Ringgit Impress
The Canadian dollar climbed on Friday to its highest level in ten weeks on the back of an impressive end-of-year rally in the prices of oil, copper and gold. Other commodities-sensitive currencies like the Australian dollar, South African rand and Malaysian ringgit, among others, were also well supported. As WTI crude oil reached a two-and-a-half-year […]
Westpac, ING Forecasts: Australian Dollar Set for 10 percent Decline and Sterling to Climb on Trade Deal, Hawkish BoE
The Australian dollar is set for a double-digit (11%) fall to just 68 US cents in the coming eighteen months, according to the revised forecast of Australia’s fourth largest bank, Westpac. In a note to clients, the team at Westpac said this week that it sees a fall from Friday’s AUD/USD 3 Month Chart Regular […]
Markets Upbeat Ahead of FOMC and Trump Decision; Korean Won Best in Asia-Pac
Ahead of major announcements in the coming days, investors were in surprisingly good spirits on Wednesday, indicated by a stronger New Zealand dollar, won, rupee and a faltering yen. Weakness in Asia-Pac FX would have been forgiven ahead of Thursday’s announcements by the FOMC (Wednesday in the US and Europe), Bank of England and Donald […]
Asia-Pac Currencies Make Waves Against Euro After ECB Extends Asset Purchases
Currencies in the Asia-Pacific region made sweeping gains against the euro on Thursday night after the European Central Bank announced a cautious approach to the removal of monetary stimulus. Further to a zero percent interest rate, the ECB is currently buying €60 billion worth of assets (bonds) each month, with the goal of keeping eurozone […]
Philippine Peso at Eleven-Year Low and Australian Dollar Falls on CPI Miss
The hearts of those holding Philippine pesos were broken on Tuesday after the currency slipped to its weakest level against the dollar in more than eleven years. The peso weakened by 33 centavos to 51.85 per dollar. The peso wasn’t alone in falling against the dollar; most Asia-Pac currencies did the same as the greenback […]
New Zealand Dollar Continues to Fall; Now Worth Less Than USD 0.7
Holders of New Zealand dollars are still suffering on Friday as the currency continues to fall following last night’s news that New Zealand will be led by a Labour government, with Jacinda Ardern at the helm. In the twenty-four-hour period leading up to 4pm in Wellington, the New Zealand dollar weakened nearly 2.25% against the […]
Yen Unmoved by Exports and NZD Slumps Ahead of Decision on New Zealand’s Future Government
For Asia-Pac currencies, Thursday’s session was dominated by political nervousness in New Zealand and a busy economic calendar. In terms of data, Japan kicked things off a little before 9am in Tokyo with the country’s latest trade figures. Export growth of 14.1% in the year to September matched market expectations, more or less. Exports have […]
A Higher Australian Dollar Poses No Problems for Exporters, Says Treasurer
Australian Treasurer Scott Morrison expressed no discomfort with the current valuation of the Australian dollar this weekend. In an interview with Bloomberg TV, Morrison said that Australian exporters had adapted to a currency that was now 9.3% higher against the US dollar ($0.7873) and nearly 4% higher against the Chinese yuan (¥ 5.1954) than it […]
The Week Ahead for Asia FX
The week ahead should be an interesting one for Asian financial markets, with the highlights being China’s 19th National Congress, the latest numbers for Chinese economic growth, the Bank of Korea’s monetary policy meeting and Japanese trade data. Further to that, and to the events outlined below, investors should look with care to Federal Reserve […]
Asia-Pac Gains as Risk Appetite Returns
With the unsurprising exception of the Philippine peso – Asia’s worst performing currency of the year – Asia-Pac’s most actively traded currencies made gains against the US dollar on Tuesday. Although limited, gains were somewhat easy to come by as risk appetite returned after the President of Catalonia, Carles Puigdemont, held off on formally declaring […]
US Jobs Report Best Ignored as Hurricanes Wreak Havoc on Economic Data; Dollar Flip-Flops
Wow. What a confusing jobs report. The most important economic data release of the month caused flip-flopping in the US dollar on Friday as a decline in US jobs was offset by solid readings for earnings growth and unemployment. The US Bureau of Labor Statistics said on Friday that non-farm payrolls fell by 33,000 in […]
Australian Dollar Has Tough Day; Will Go Easy Ahead of US Payrolls Data
It’s been a tough twenty-four hours for the Australian dollar. The “Aussie” was hammered after Thursday’s woeful retail sales data, which showed that sales declined in August by 0.6% – the biggest fall in four years. To add insult to injury, previously released data for July was revised down to -0.2%, from 0.0%. AUD/USD has […]
US Dollar to Return to Long-Term Decline, Says Saxo Bank
Saxo Bank’s head of FX strategy, John Hardy, has added his name to a list of prominent analysts predicting a difficult fourth quarter for the US dollar. On September 27th, ABN Amro expressed its “strong conviction” on future dollar weakness and Nomura reaffirmed its “structural bearish view,” and now, one week later, we have Hardy, […]
RBA Preview: Australian Dollar, Labour Market and House Prices in Focus
At 2:30pm local time (GMT+11) on Tuesday, the Reserve Bank of Australia will announce its latest decision on interest rates. No change is expected to the RBA’s cash rate which has been held at a record low of 1.5% since August 2016, and therefore, once again, the spotlight will be shone on the RBA’s accompanying […]
Asia-Pac Takes a Hit as Fed Sticks to Guns on Rate Hike, Balance Sheet Normalization
Currencies in the Asia-Pacific region fell against the US dollar on Thursday morning after the Federal Reserve signaled that it would raise interest rates again this year and would begin shrinking its balance sheet in October. The Fed funds rate was left unchanged at its current range of 1–1.25%. Although the majority of economists had […]
ABM Amro Has “Strong Conviction” on Future Dollar Weakness; Predicts 12 percent Rise in AUD and NZD
New forecasts from Dutch bank ABN Amro see continued weakness in the US dollar heading into and throughout 2018. “We have a strong conviction that the US dollar has entered a multi-year downtrend,” said ABN’s Georgette Boele. The dollar will be hardest hit against “growth sensitive and commodity currencies,” according to the bank, which include […]
Sterling Soars, Yen the Casualty at the End of Eventful Week
The British pound rose on Friday to its highest level against the dollar since the UK’s historic ‘Brexit’ vote in June of last year. By lunchtime in London, the pound was buying $1.3616, capping a brilliant fortnight in which it has risen from rates close to $1.29. On minor profit taking, the currency settled back […]
New Zealand Dollar Remains Heavy as Election Looms
The New Zealand dollar sank on Monday morning against the other FX majors amid uncertainty over New Zealand’s future government and on the back of a continuation in weak sales data. Advanced voting in New Zealand’s general election begins on Monday, ahead of election day on September 23rd, and while polls indicate no clear favourite, […]
Asian Currencies Plunge Against CAD After Bank of Canada’s Surprise Rate Hike
To the surprise of many, the Bank of Canada raised interest rates on Wednesday to 1.0%, from 0.75%, which sent currencies in the Asia-Pacific region tumbling against the Canadian dollar. The Bank of Canada had been expected to raise the cost of borrowing again this year, following a quarter-point hike in July, but most analysts […]
Outlook Looks Good for Australian Dollar Despite RBA’s Unchanged Message
The Reserve Bank of Australia maintained its cash rate at a record low of 1.5% on Tuesday and offered little for AUD bulls to get their teeth into. The bank remains concerned about weak wage growth and elevated levels of household debt. On Australian economic growth – currently at 1.7% – this “will gradually pick […]
Data Fails to Lift AsiaPac Currencies
A better than expected Chinese manufacturing PMI failed to lift the yuan or Australian dollar on Thursday morning against a US dollar determined to end the month in the green. The Chinese PMI for the manufacturing sector came in at 51.7 for August, slightly ahead of the market forecast of 51.3 and July’s reading of […]
AUD/NZD Breaches 1.1, Bank of Korea to Meet and US Dollar Shows Its Metal in Recovery
On Wednesday morning, the Australian dollar-to-New Zealand dollar exchange rate came within three pips of making a sixteen-month high after it finally breached 1.1 – the major technical resistance level in this rate. A rally slightly above 1.1 on March 16th (to 1.1019) was quickly rejected and preceded a three-month decline in AUD/NZD to levels […]
Government Forecasts Add to New Zealand Dollar Woes, Currency at 14-Month Low Versus EUR
The New Zealand government piled misery onto the New Zealand dollar on Wednesday with its announcement that it had revised downward its forecasts for economic growth this year and next. Treasury officials said that growth for the year to June 2017 would likely come in at 2.6%, from earlier expectations of 3.2%, and have forecast […]
Barclays: China’s Housing Slowdown to Drag Australian Dollar Lower
Barclays FX research team have this week reaffirmed their view that the Australian dollar will trade in a flat or downward trend for the rest of this year. As of 2pm GMT on Tuesday, the currency was buying USD 0.792. Barclays believe that markets are yet to price in the Australian dollar risk presented by China’s […]
Comparing Australian Bank Exchange Rates
We take a look at why not using your bank for foreign exchange is generally a good idea to save money. As an example, we compare the 4 big Aussie banks rates for transfers and travel cash to two popular foreign exchange specialists, OFX for transfers and Travelex for travel money.
CAD, AUD, NOK, BRL End the Week Strong After Oil Jumps on Further Bullish News
A near-$2 rise in the price of oil supported the so-called ‘commodities currencies’ on Friday, many of which gained close to a percent against the US dollar and made respectable gains against the euro and Japanese yen. Oil’s 3.9% rise to $48.74 per barrel (NYMEX crude futures, September delivery) followed news that US and Canadian […]
Australia Adds 28k Jobs, AUD/NZD and AUD/GBP Rally to Multi-Month Highs
Fuelled by a return to “risk-on” amid easing geopolitical tensions and ahead of a crucial employment report, the Australian dollar rose broadly and was the currency world’s best performer yesterday. Notable exchange rates include AUD/NZD, which rallied to a fifteen-week high of N$1.087, and AUD/GBP, which rallied to a four-and-a-half-month high of £0.616. A notable […]
Yen Falls as Risk Appetite Returns
The yen fell by nearly a percent yesterday against the US dollar – its biggest one-day fall in six weeks – as investors regained their appetite for risk amid an easing of the tense situation surrounding North Korea. The yen, which has long been considered the FX world’s premier safe haven, typically falls in value […]
Yen at 8-Week High as Investors Flee to Safe Havens and Singapore’s Economy Outperforms
Amid growing tensions between the US and North Korea, investors fled on Thursday to the safety of the Japanese yen, gold and Treasuries. Earlier this week, US president Donald Trump had promised to lay “fire and fury” on North Korea should any attempt be made by the rogue nation to harm the US. Not one […]
Drama in Asia as the Yuan Spikes to 10-Month High Amid Speculation of a Wider Trading Band
Tuesday’s Asian session was stirred by a surprise surge in the Chinese yuan. Starting around 9:30am in Beijing, the yuan began rallying strongly against the dollar, with offshore rates declining (the yuan strengthening) to 6.7024 by 1pm, from rates earlier in the session around 6.73. Onshore yuan easily broke the 6.7 level and as of writing […]
Dollar Has Best Day Since January After Solid Jobs Report
The US dollar ended the week on a high, posting its best day in more than six months following Friday’s solid US employment data. The US Dollar Index (DXY) surged from levels in the high 92s to the high 93s after the US Bureau of Labor Statistics said that non-farm payrolls had risen by 209,000 […]
RBA Stay Put and Moody’s Are Unhappy with South Africa’s Monetary Policy, Rand Falls to Long-Term Lows
The South African Reserve Bank (SARB) surprised markets in July when it cut interest rates by a quarter-point to 6.75% – the country’s first rate cut since 2012. Prior to the decision, of the fifty economists polled by Reuters and Bloomberg, only three had predicted a move to lower the cost of borrowing. This rate […]
There’s a “Perfect Storm” for Swiss Franc Depreciation, Currency at 18-Month Low Versus Euro
The recent plunge in the Swiss franc continued on Friday with the currency falling to new multi-month lows against several of the other majors. Against the euro, Switzerland’s currency fell to an eighteen-month low of €0.88 (EUR/CHF 1.1363). The franc has fallen in near-vertical fashion this week and the pace of its fall has only […]
“Most important Data Release in Australia” Turns Aussie Dollar Cold, Now a Great Time to Convert AUD
Headline CPI growth in Australia fell below market expectations on Wednesday, disappointing those seeking reasons for potential RBA hawkishness at their August 1st meeting. The Australian Bureau of Statistics (ABS) said on Wednesday morning that consumer prices rose in the second quarter by just 0.2% – down on the market forecast for 0.4% and below […]
Sterling Predicted to Fall 15 percent Before Year-End and RBA Deputy Cools Australian Dollar
The British pound is set to fall by as much as 15% by the end of 2017 according to Guy Petcho of Voya Investment Management. Petcho, who formerly was a part of George Soros’ investing team, said in an interview with Reuters on Friday that a turn for the worse in UK economic growth will […]
Yen Falls After BoJ Admit Defeat on Inflation and Can’t Stop Australian Dollar as Currency Approaches 0.80 vs. USD
Officials at the Bank of Japan (BoJ) said today that they were pushing back the time frame for achieving their 2% inflation target to the end of 2019, marking yet another defeat in the bank’s long-term battle against deflation. When the target was introduced by BoJ Governor Haruhiko Kuroda in 2013, it was forecast that […]
Hong Kong Dollar Fall Continues, Now at 18-Month Low
Ahead of today’s US non-farm payrolls data, the Hong Kong dollar’s fall continues unabated. This week the currency is holding above 7.81 against the US dollar and reached an eighteen-month low (a USD/HKD high) on Monday of 7.8140. Hong Kong dollar weakness continues to be driven by the ever-widening gap between local and US interbank […]
Will the RBA Follow Hawkish Lead Set by Other Central Banks?
At 04:30 GMT on Tuesday, traders will learn the latest decision on interest rates by Australia’s central bank, the Reserve Bank of Australia (RBA). The decision will also be accompanied by a statement from the bank. While rates are expected to be unchanged at their record low of 1.5%, there is a sense of anticipation […]
Yen Falls Intra-Day After Japan’s Ruling Party is Crushed in Tokyo Election
With all votes counted, it has been confirmed that Japan’s ruling party, the Liberal Democratic Party (LDP), has been crushed in Sunday’s Tokyo Metropolitan Assembly (TMA) election. The TMA is the prefectural parliament of Tokyo and its members are elected every four years. The LDP, who are led by Japanese Prime Minister Shinzo Abe, won […]
Philippine Peso at 10-Year Low After USD/PHP Finally Breaks Resistance at 50.50
This week the Philippine peso fell against the dollar to levels not seen since September 2006. Recent peso weakness, driven by a deterioration in the state of the Philippines’ current account, finally pushed USD/PHP above the 50.50 resistance level which had kept the exchange rate contained since February. USD/PHP reached highs of 50.72 on Thursday but did […]
Ringgit Completes Turnaround, Is Asia’s Best Performing Currency in Second Quarter
The Malaysian ringgit was Asia’s worst performing currency in 2016, having suffered from a slump in the oil price, a general deterioration in Malaysia’s economic outlook and a far-reaching political and economic scandal involving the country’s Prime Minister, Najib Razak, and billions of lost dollars from Malaysia’s state development fund. With that said, in 2017, […]
Australian Dollar at 3-Month High, Receives Second Boost in as Many Days as Iron Ore Leaps Back Above $60
The Australian dollar rose early on Thursday to three-month highs of 0.7665 versus the US dollar and 86.0 versus the yen as the currency benefitted from a second piece of good news in as many days, this time from the commodities markets. Yesterday on BestExchangeRates.com, we reported on the market stirring comments from former RBA […]
Yen Falls to 1-Month Low Ahead of Yellen Speech
“Hedge funds are selling yen this week, and positive comments from Yellen could give them an excuse to sell even more,” said Kaneo Ogino of FX research group Global-Info Co yesterday. Ogino’s comments came at the end of yesterday’s New York session which ended with the yen trading at ¥111.84 against the dollar, marking a […]
Australian Dollar Outlook: Citi Prediction for Lower Iron Ore Prices Suggests Long-Term Decline in Currency’s Value
To the glee of those holding Australian currency or AUD denominated assets, in recent weeks the Australian dollar has reversed its second-quarter trend. Having fallen almost 5.5% between late March and mid-May, largely because of a tumble in the price of Australia’s largest export, iron ore, the AUD/USD exchange rate has spent much of the […]
Hong Kong Authorities Post Warning on “Dangerous Situation” in Housing Market and RBNZ Keep Cool on Interest Rates
“We have to warn our people about the dangerous situation of the property market,” said Hong Kong’s Financial Secretary, Paul Chan, today. In an interview with Bloomberg’s Haslinda Amin, Chan expressed concern about a potential housing market correction in Hong Kong, which is currently the world’s most expensive city for property. In 2016, Hong Kong […]
Yen Threatens Major Level Against THB, Falls to Multi-Month Lows vs. NZD and AUD Following Surprise Japanese Trade Deficit
The market received surprising trade data from Japan on Monday. What had been expected as a ¥43 billion trade surplus for the month of May was actually a deficit of ¥203 billion. April’s surplus had been ¥480 billion. The data came as a surprise to many given that the Japanese economy had seemingly been picking […]
Australian Dollar Falls but Recovers Following Moody’s Downgrade of Australia’s Top Banks
On Monday, US ratings agency Moody’s cut its credit ratings on Australia’s four largest banks by one notch to Aa2 from Aa1. The banks – Westpac, ANZ, Commonwealth Bank and National Australia Bank – retain their “investment grade” status but are no longer top-rated by the agency. Less well known, smaller banks that were downgraded […]
Malaysian Ringgit Trapped in Range Versus Pound, Reverses from Five-Month High
Having been one of Asia’s worst performing currencies for some time, the Malaysian ringgit has turned a corner recently; a small corner, but a corner nonetheless. The ringgit is now clearly trending upwards against the US dollar, albeit on low volatility, and is up nearly 6% since lows in mid-November. One ringgit now buys more […]
New Zealand Dollar Finally Turns Following FOMC and Weaker Than Expected GDP
A combination of this morning’s FOMC meeting and weaker than expected GDP data pushed the New Zealand dollar down against a broad group of currencies on Thursday. Data released by Stats NZ on Thursday morning showed that GDP rose 0.5% in the first quarter, which although higher than a 0.4% print in the fourth quarter, was comfortably […]
Australian Dollar Unmoved by Fall in Consumer Sentiment
This morning, investors learned that the Westpac-Melbourne Institute (WMI) survey of Australian consumer sentiment fell last month by 1.8% and remained in “pessimist” territory for the seventh consecutive month. The survey is seen by many analysts as an important gauge of the Australian public’s willingness to spend, which is itself an important driver of the […]
South Africa’s Rating Downgraded Again but Currency Remains Stable
On Friday, US ratings agency Moody’s downgraded the sovereign credit rating of South Africa to Baa3 from Baa2 and assigned the country a negative outlook. The rating change concludes a review of South Africa by the agency which began on April 3rd. A Baa3 rating keeps South Africa at “investment grade” with Moody’s, one notch […]
New Zealand Dollar Strength Continues, Reaches 7-Month High vs. Canadian Dollar
The New Zealand dollar was the best performing of the FX majors in May. By the month’s end, the currency had gained 2.9% against the US dollar, beating a resurgent euro, which gained 2.6%, into first place. The rapid appreciation of New Zealand’s currency, which has been attributed by Citi Bank to improving trade, strength […]
Sterling Tumbles as a Hung UK Parliament Most Likely with Half of Votes Counted
The UK is on course for a hung parliament following yesterday’s general election and the British currency has tumbled to multi-week lows against most currencies. As of 3am GMT, with around half of the votes counted, it looks fairly likely that the ruling Conservative party will win the most seats, but that it will fall […]
Australian Dollar at 1-Month Highs Following Better Than Expected GDP
The Australian dollar jumped 0.5% against the US dollar to 0.754 within minutes of this morning’s release of better than expected GDP data. The data, released by the Australian Bureau of Statistics, showed that Q1 GDP grew at 0.3% – slightly stronger than the forecast for 0.2% but a significant fall from growth of 1.1% […]
RBA on Hold and It’s Decision Time for the Philippine Peso as Currency Rallies to 7-Week High
In a decision widely expected by the market, Australia’s central bank, the Reserve Bank of Australia (RBA), maintained the country’s interest rate at its record low of 1.5% today. In an accompanying statement, the RBA’s Governor, Philip Lowe, said that “annualized GDP growth is expected to have slowed in the March quarter,” but that “growth […]
Gulf Crisis Begins and RBA in Focus
Within the past several hours, a story that will no doubt mushroom over the coming days has developed. We have, it seems, the makings of another gulf crisis. Early this morning, four Arab nations, led by Saudi Arabia, have announced that they have severed diplomatic ties with Qatar and are acting to close all access […]
US Dollar Index Falls to 7-Month Low on Poor Jobs Data
The US dollar fell across the board yesterday and the Dollar Index (DXY) fell to 96.67 – its lowest in nearly seven months – following a highly disappointing US jobs report. For traders, the monthly report, which includes numbers for US non-farm payrolls, average hourly earnings growth, as well as the unemployment and participation rates, […]
AUD Falls Again, Near 1-Year Lows Versus EUR as China Data Beats Australian in the Battle of Greatest Influencer
The Australian dollar fell sharply on Thursday morning, adding to across-the-board losses on Wednesday, as negative economic data from China easily beat positive Australian data in the game for greatest influence, and as iron ore fell to $55 per ton in the NYMEX futures market. As of 03:30 GMT on Thursday, the Australian dollar sits […]
Pound Falls as Shocking Poll Data Suggests UK Should Brace for a Hung Parliament
Late on Tuesday night, the British pound fell two-thirds of a cent against the dollar to 1.2789 following results from the latest YouGov poll, which indicate that the UK’s ruling Conservative party will fall 16 seats short of an outright majority and that Britain faces a hung parliament after its general election on June 8th. […]
New Zealand Dollar Is Best Performer in May but Big Bank Predicts Lower Value Ahead
Of the FX majors, the New Zealand dollar has been the best performer in May. At the end of yesterday’s New York session, with NZD/USD at 0.754, the pair is up 2.9% since May 1st. By comparison, the kiwi’s closest cousin, the Australian dollar, is down 0.5% against the US dollar. The New Zealand dollar […]
Sterling Falls to 1-Month Low as Polls Show Tory Lead Shrinking
Throughout May, the British pound has battled with the $1.30 level against the US dollar. Since April 27th, the majority of trading in GBP/USD has occurred within a narrow range between $1.2845 and $1.30. Only once since that date did the pair manage to post a close above $1.30, which occurred on May 19th at […]
Thai Baht at 22-Month Highs as Money Pours into Emerging Markets
The Thai baht had its best day yesterday since March and has forced itself to 22-month and 15-month highs against the US dollar and Australian dollar respectively. USD/THB fell by 0.55% yesterday to 34.15, finally breaking the 34.25 level that had held the pair up since April 3rd. And the baht has strengthened again this […]
Moody’s Downgrades China Debt, Adds Another Weight onto Australian Dollar
The Australian dollar has fallen this morning following a downgrade of China’s debt rating by US ratings agency Moody’s. The giant Asian nation has been assigned a new rating of A1 (from Aa3) by the agency on the grounds that its “financial strength will erode somewhat over the coming years.” It is the first time […]
AUD/USD Back at 0.75 but That Doesn’t Change Bearish Outlook
As of writing, a little before 5am GMT on Tuesday, the Australian dollar has reached 0.75 versus the US dollar. This psychologically important level will be welcomed by Australian dollar bulls who, more than most, have suffered during the past two months after watching the currency decline from 0.7750 to 0.7328 between March 21st and […]
Merkel Adds Fuel to Euro Rally, Says Euro “Too Weak” for Germany
In the past several hours, the euro has surged following the release of comments from German Chancellor Angela Merkel, who has said that the single currency is “too weak” for Germany – weakness which is “due to the ECB’s policy” and which “makes German goods…comparatively cheap.” As of writing at 13:35 GMT, the euro is […]
Dollar Battered and Fed Rate Hike in Doubt as Trump Jolts Markets
The likelihood of a US rate hike in June is falling fast, as is the US dollar. Just one week ago, the implied probability of the Federal Reserve hiking US interest rates at next month’s meeting – a probability derived from prices in Fed funds futures contracts – stood near 85%. As of Monday, that probability had […]
Another 6 percent Fall in AUD/USD Exchange Rate Coming in 2017, Says Bank of America Merrill Lynch
Bank of America Merrill Lynch predicted yesterday that the Australian dollar-to-US dollar exchange rate will fall to 0.7 within 2017 – a move that would mark a near-6% fall from yesterday’s closing rate of 0.7426. Analysts at the bank have come to their conclusion following an in-depth analysis of Australian steel production rates and port […]
Commodities Support AUD, NZD, INR and Thai Baht Boosted by Better Than Expected GDP
The price of WTI crude oil rose by almost a dollar yesterday to $48.79 – it’s sixth daily gain in the past seven – and prices in the futures market for 62% iron ore held above $60 per metric ton, both of which gave a boost to commodities currencies. Oil rallied after energy ministers from […]
A Decline in New Zealand Dollar Likely as RBNZ Disappoint, Still Sees No Rate Hike Until 2019
The New Zealand dollar has fallen more than a cent against the US dollar following this morning’s RBNZ statement. As expected by the market, New Zealand’s official cash rate was kept at its record low of 1.75%, but the dovish tone of the RBNZ’s accompanying statements has surprised many. “Monetary policy will remain accommodative for […]
Australian Dollar Getting Cheaper by the Day as Further Economic Data Drags Currency Lower
There is good news for those in the US, Europe, Japan, Singapore, the UK, New Zealand, Taiwan, India, Mexico and just about anywhere at all, and that news is: that the Australian dollar is offering itself up for sale, in a buy 1 get all special. If you’ve always dreamt of cuddling that koala, buying […]
Traders Bought the Rumour, Sold the Fact as Euro Falls Slightly on Macron Victory
Former Rothschild banker and centrist candidate Emmanuel Macron is the new French president. Macron secured almost precisely two-thirds of yesterday’s vote (66.06%) and, in doing so, easily fended off his competition, Marine Le Pen, who secured one-third (33.94%). At 39, Macron will become France’s youngest ever president. He also becomes the first president since 1958 […]
Dollar Falls Despite Positive Jobs Data and Crumbling Commodities Still Taking Their Toll
A rebound in US non-farm payrolls data surprisingly saw the US dollar fall yesterday against all of the other majors, with the exception of the Japanese yen. Yesterday’s headline reading for April of +211k new jobs stood in stark contrast to March’s number of only +75k (revised lower from +98k). March’s figure had missed market […]
Euro Is Flying Ahead of French Vote, Markets No Longer Concerned About Le Pen
Judging by asset prices, investors are no longer concerned about a Marine Le Pen victory in Sunday’s French election. As of writing, at 05:20 GMT on Friday morning, the euro is buying almost 1.1 US dollars (EUR/USD 1.0989) and is at its highest level against the ‘greenback’ since November-9th, the day of Donald Trump’s surprise […]
Fed and Economic Data Add to a Terrible Day for Australian Dollar
Yesterday on BestExchangeRates.com, we suggested that now might be the time to change your Australian dollars into Canadian dollars, having seen the Aussie’s buying power reach 6-month highs on Tuesday. Those words now seem prophetic, given what we saw yesterday in Australian dollar exchange rates. The Australian dollar tumbled across the board yesterday, including against […]
AUD/CAD at Six-Month Highs, Is It Time to Get Some Loonie?
Among the FX majors, the Australian dollar and Canadian dollar are considered the most important ‘commodity currencies’, which is to say that the fortunes of each are heavily influenced by changes in the price of commodities or by their respective nation’s ability to sell them. Canada is the world’s sixth-largest oil producer, with oil making […]
Australian Dollar Little Changed Following RBA
Little was expected from today’s RBA announcement, and little was delivered. Interest rates in Australia were kept at record lows of 1.5%. Changes in Australian dollar exchange rates pre and post-RBA have been minimal. As of writing, a little more than three hours after the RBA’s announcements, both AUD/USD and AUD/JPY are slightly lower from […]
Aussie Falls on CPI Miss and Hong Kong Dollar Slide Continues, Now at Fourteen-Month Lows
Within the past hour, the Australian dollar has fallen sharply following weaker than expected CPI data. Figures from the Australian Bureau of Statistics show that consumer prices grew 0.5% in the first-quarter of 2017 and at an annualized rate of 2.1%. AUD/USD fell from 0.7539 to 0.7508 on the news and, as of writing, trades […]
Yen to Weaken Against US Dollar in Coming Months, Says Citi Bank, and US Protectionism Begins with Trump’s Canadian Lumber Tax
In their latest weekly foreign exchange report, US giant Citi Bank have predicted a rise to 118.0 in USD/JPY in the coming 6-12 months, representing a 7% fall in the dollar buying power of the yen. The yen will depreciate against the dollar as US Treasury yields rebound following future announcements on US fiscal stimulus […]
Euro Jumps to Multi-Month Highs Vs. USD, NZD and AUD: Markets See Macron as Near Certainty for French Presidency as He Faces Le Pen in Election Second Round
There’s only one story in town this morning – the battle for Europe’s future, otherwise known as the French general election. As had been predicted for many months, the pro-Europe, centrist candidate Emmanuel Macron and the far-right, Eurosceptic candidate Marine Le Pen have made it through to the head-to-head second round of voting, to take […]
Get Your New Zealand Dollars This Year Rather Than Next, Suggests Bank’s Latest FX Forecasts
Yesterday, ABN AMRO released their latest FX forecasts for 2017 and 2018. There were few notable revisions, nor was there much in the way of standout predictions, with the exception of one – NZD/USD to rise to 0.80 in 2018. The ‘kiwi’ hasn’t traded at or above 0.80 against the US dollar since October 2014. […]
Highest New Zealand Inflation Since 2011 Pushes AUD/NZD to Six-Week Lows
Consumer prices in New Zealand are rising at their fastest rate in more than five years, said Statistics New Zealand today. CPI rose 1% in Q1, ahead of the market forecast of 0.8% and Q4-2016’s 0.4%. The rise brings annualized inflation to 2.2% – its highest since September 2011. The New Zealand dollar jumped on […]
Dollar Plays Catch Up, European Elections to Begin and Pleasant Surprises on China Data
The US dollar has started the week lower against most currencies as traders play catch up following market holidays on Friday. In Friday’s market update at BestExchangeRates.com, we described how March’s US core inflation fell month-on-month for the first time in seven years, but with many investors away for the Good Friday holiday, we also […]
Big Miss in US Inflation to End the Week, and Falling Iron Ore Likely to Keep Pressure on Australian Dollar
Markets ended the week quietly, which was unsurprising given that Canada, Germany, the UK and Switzerland all had public holidays yesterday. What was surprising was the extraordinary miss in Friday’s US inflation data. Combined with soft retail sales figures and last week’s big miss in non-farm payrolls, the US Federal Reserve appear vindicated in what […]
Thai Baht Close to 21-Month Highs as Central Bank Governor Denies Currency Manipulation
The Thai baht closed higher against the US dollar again on Thursday, ending the day just several pips short of recording its highest close in 21-months. Against the euro, the baht posted its highest close in 23-months. USD/THB and EUR/THB ended the New York session at 34.37 and 36.40 respectively. The baht continues […]
Singapore’s Growth Roller Coaster Continues and RBA Posts Warning on Housing Market
First-quarter data released this morning shows that the Singapore economy has contracted at an annualized -1.9%. The number continues to add to what has become a theme of incredible GDP volatility in Asia’s ‘Lion City’. Annualized GDP growth to the end of Q4 2016 had been a whopping +12.3%, and prior to that, -0.4%. Also […]
Bank of America’s Yen Recommendation Proven Wrong Within Hours Amid Markets’ Flight to Safety
The theme in financial markets on Tuesday was, once again, of re-positioning into safe haven assets on heightening geopolitical risk. The day saw North Korean state media warn of a nuclear strike on the US if provoked, which was followed by a tweet from president Donald Trump saying that the rogue nation was “looking for […]
A Big Increase in the Yen Is Coming, Says Analyst at Investment Bank
The probability of a significant appreciation of the Japanese yen in the coming weeks has increased substantially, at least according to Georgette Boele, coordinator of FX strategy at Dutch banking group ABN Amro. In the bank’s latest update on markets, Boele points to factors such as the Federal Reserve’s plans for significant balance sheet reduction […]
US Dollar Resilience Forces AUD/USD below 75.00 and Indian Rupee Skyrocketing
Despite what has been described by CNBC as a “shocker” of a US jobs report on Friday and a US attack on Syria – a move certain to have geopolitical ramifications – the US dollar ended the week strongly. Against the Japanese yen, the dollar fell toward 110.10 early in the day on news of […]
Yen Jumps as US Missiles Strike Syria
Within the past several hours, safe-haven assets such as the Japanese yen and gold have jumped, and stocks have fallen, following a US military strike on a Syrian airbase. The launch of fifty Tomahawk cruise missiles from US Navy warships in the Mediterranean Sea was ordered by President Donald Trump. The decision to strike an […]
Wednesday’s Data to Breathe New Life into FX, and Time to Buy Your Sterling
The FX markets welcome China back from a two-day holiday on Wednesday, and markets will be hopeful that the Asian giant’s re-introduction, combined with a host of US data, will spark new life into what has been an uneventful start to the FX week. Again yesterday, like the day before, some of the world’s most […]
Is an Australian Dollar Reversal on the Cards?
The Australian dollar has had a tough couple of weeks. Yesterday, against the U.S. dollar the Aussie finished the FX session down for the third consecutive day (its eighth daily fall in the past ten trading days). As of writing, AUD/USD is down again in Tuesday’s Asian session, trading at 0.7591, marking a 2% fall […]
Australian Dollar / Yen Outlook: ‘Aussie’ Strong Enough to Halt the Yen’s Advance at 84.00
Following last week’s broad strength in the Japanese yen – strength that produced a sharp fall in AUD/JPY from 87.00 to 84.00 – Australian dollar bulls will today be breathing a sigh of relief following the yen’s inability to break further below the 84 handle. At the end of New York’s FX session on Tuesday […]
NAB Exchange Rates – BER Review
In this article we take a look at National Australia Bank exchange rates and examine how NAB foreign exchange compare to other options available to you.
TorFX International Money Transfers – BER Review
In this guide we take a look at TorFX exchange rates, customer service and user ratings, so you can see how they compare to other providers.
Australia Week in China Trade Delegation
BestExchangeRates was selected as a delegate for the Australia Week in China (AWIC) trade delegation to China with Prime Minister Malcolm Turnbull in April 2016. AWIC 2016 was the largest business mission ever organised by Austrade consisting of almost 1000 delegates from around 750 companies. AWIC 2016 focussed on forging business linkages, building the bilateral […]
World First’s selection of 11 global events for sports lovers in 2016
A new year brings a wealth of sporting delights around the world, from Euro 2016 to the Invictus Games. Here at World First, we help people transfer money around the world. Some of the people we help in 2016 might be out in the US for the Ryder Cup golf, and enjoy it so much […]
World First’s list of 101 things to do around the world in 2016
Want to do something different in 2016? We’ve scoured the world for the biggest, messiest, noisiest, most iconic and, frankly, the weirdest events around the world to compile the ultimate list of 101 things to do around the world in 2016. From sport to music, festivals to the weird and wonderful, we’ve got you covered. […]
Four dangerous currency exchange myths
Being apathetic about currency exchanges rates can be very damaging for your business. Let’s look at some of the dangerous myths that people cling to, to justify keeping their head in the sand. 1. What goes up must come down Or the reverse: that a sinking currency must recover eventually. History tells us that movements […]
The downside to a lower Australian dollar
The RBA has made a lot of noise about the economic benefits of a lower Australian dollar recently and most businesses involved in the local tourism sector, and exporters in general, agree a lower currency would help them remain competitive. Some manufacturers might beg to differ however. In theory a lower Aussie dollar can help […]
Yen & Onsen – Skiing Japan
Excited to announce that the BestExchangeRates team and friends (pictured below) will be converging from Australia and the UK to Japan for a field study trip to research all matters Yen AUD/JPY GBP/JPYand oh a few powder runs and Onsen along the way 🙂 Along the way we will compare using Cash, Bank Credit Cards […]
Experiment: $100K sent with OFX saves $3K vs $100K sent via a Bank
We came across an article in The Australian Financial Review today on an interesting experiment of splitting a $200K AUD->USD transfer into two, with half sent via OzForex and the other half by one of the ‘big four’ Australian banks on the same day to compare what arrives at the other end. The results are […]
Taking advantage of strong exchange rates for the Australian dollar
The Australian dollar has hit new record highs in recent months rising to a 28 year high against the pound sterling (GBP) and also against the Japanese yen (JPY). Despite speculation that the recent RBA interest rate drops would substantially impact its valuation, the strong Aussie dollar looks like it’s here to stay awhile. Australians […]
Top 4 travel destinations where the Australian dollar works hardest
By Carly Pickering, OFX The high Australian dollar means there’s rarely been a better time to travel. Not only are airfares, accommodation and transport more affordable, but your increased shopping power will net you all types of bargains. But while it’s true that the Australian dollar is up for most destinations, there are a few […]
Bank of Queensland
Bank of Queensland currency exchange services offer very competitive exchange rates on the following products : foreign cash travellers cheques pre-paid travel money cards (referred to as Cash Passport cards) You can purchase foreign cash on-line via the BOQ Website with no purchase fee, foreign cash is also available via all BOQ branches, where a […]
High or Low AUD, who Benefits?
How does the gyrations of the Aussie Dollar affect Shoppers, Travellers, Importers, Exporters, Manufacturers, Tourism operators, Educators? Strong Australian dollar (above 0.90 USD): Winners Shoppers: Imports like electronics and cars should be cheaper in coming months if retailers pass on savings from new stock. Buying online from places like the US and UK will also […]
Malaysia Ringgit – case of false advertising?
I was off to the local bank to exchange Aus dollars to Malaysia Ringgit at an exchange rate of 2.63. your site had the Travelex rate published as the best rate at over 2.7 (2.72 I think?). So, I travelled further to get to the nearest Travelex and queued for 30 mins ….. to get […]
CurrencyOnline
On the 26th January 2019, Currency Online will join forces with XE. By bringing the two companies together, XE is combining their 25 years of authority in currency exchange and Currency Online’s comprehensive range of money transfer services. Read our XE Review.