There have been mixed messages coming through as to whether the next interest rate move will be either up or down. The fact that the Reserve Bank of New Zealand last week unexpectedly stated it is considering an interest rate cut only highlights the pressures that weaker growth is having on the antipodean currencies. Although unemployment has fallen to 4.9% which bodes well for the Australian economy, underlying concerns for the housing market are putting a dampener on the Aussie. There is an expectation that the cooling housing market may become the trigger to cut interest rates with some commentators expecting a rate cut to come as soon as the summer.

The fact that the US Federal Reserve is not looking to raise interest rates for the rest of 2019 does appear to be helping the Australian dollar strengthen.

Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.