The Australian Dollar traded between 1, 109 and 1, 121 to the US Dollar in the week of 10th May to the 14th May 2010.
The Australian Dollar increased last week against the US Dollar after a government report showed that employers added more jobs in April than was forecasted by some economists.
The number of people employed in Australia increased by 33700 last month, the prediction was only 22 600.
The jobless rate worsened to 5, 4% from 5, 3%. The increases in the employment rate have sparked speculation that the RBA will increase rates once again.
The Reserve Bank of Australia has increased its benchmark rate six times since October 2009 on mounting evidence that the economy will strengthen in 2010. The increases in the benchmark rate have caused it to reach 4, 5%, this is the highest among the major currencies.
Australia’s economy is apparently now operating close to full capacity in comparison to other developed countries and the Australian Dollar is still one of the more attractive currencies given its high interest rate and it upbeat economy.
This is drawing investors to higher-yielding assets. The Euro, given the debt crisis in Greece and the uncertainty surrounding it, is the last pick among some investors.
Exchange rates as of 15:59, 14 May:
AUD/ GBP: 0.6130
AUD/ EUR: 0.7152
AUD/ USD: 0.8921
AUD/ JPY: 82.520
Brought to you by 1st Contact Money Transfers
:: Note: The above exchange rates are based on "interbank" rates.
If you want to transfer money to Australia then please register/login or call us for a live dealing rate.
Make use of a Rate Notifier to send you alerts when the Australian exchange rate reaches levels you are looking for.