Queensland disasters could mean Australian dollar dips
People hoping to take solo holidays later this year may wish to travel to Australia, as the currency may offer Sterling-users a good deal.
The Australian dollar could fall lower against the pound depending on China's attitude towards inflation in the coming months and the disaster clean up, a foreign exchange broker has said.
Georgia Raimes from World First, noted that: "Adverse weather may register a blip in an otherwise strengthening currency but this will probably be as a result of speculation and a decrease in risk appetite, which is bound to be short lived."
"As long as Australia is a key supplier of raw materials to the world's fastest growing markets [such as China], it will be well placed to weather such storms - at least economically," she added.
Queensland in Australia has faced two major natural disasters in the past few months, first there the state suffered from serious floods during late December 2010 and early January 2011, and then a cyclone hit the state earlier this month.