In this week’s FX and Your Business Podcast, Phin Ziebell talks to NAB’s Head of FX Strategy, Ray Attrill, about latest currency market developments, the significance of commodity prices – the sharp run up in iron ore price in particular – and what to look out of in coming days. Ray stresses that volatility in the iron ore price is often not a reliable guide to the performance of the AUD (but that he still thinks the AUD will be higher in coming months largely because of commodity prices!). He also talks about the significance of the recent strengthening in European currencies, which have seen the AUD/EUR and AUD/GBP cross rates fall back from highs seen earlier in the year.

Phin also talks to Jonathon Cross, Senior Markets Manager in NAB’s Corporate and Institutional banking team in Perth, who shares some insights on mining client activity in WA against the backdrop of the extraordinary strength in iron ore prices.