Weekly brief on the AUD/NZD – 23rd November 2018
Both the Australian and New Zealand dollars have been having tough times recently. The Australian dollar made some gains this week on the US dollar as the US were going into the Thanksgiving holidays. It could not however, counter the rise of the British Pound or the Euro after the draft Brexit deal was agreed. Both the AUD and NZD gave been hit hard, one of those factors being the US-China trade war. However, there are signs that a recovery may be on the horizon.
Even with the rumours of instability in the UK Government after looking into its draft Brexit deal, the pound remained stable. After the draft agreement had been finalised, the pound shot up.