Tuesday, November 2, 2010

Australia Raises Rates to 4.75%: Aussie Dollar Rises 1.7%; USD Now Worth Less Than AUD

Australia unexpectedly raised its interest rates to 4.75%.

The Aussie dollar jumped 1.7% on the news (i.e, the USD dollar dropped another 1.7%).

The poor US dollar is now worth less than than Aussie Dollar:

Live rates at 2010.11.02 12:24:00 UTC
1.00 USD = 0.998494 AUD

United States Dollars Australia Dollars
1 USD = 0.998494 AUD 1 AUD = 1.00151 USD

Let's see how the FXA straddles are doing later today.

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