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Another record high for the AUD against the EURO.

Written by Sam Coxhead on July 20th, 2012.      0 comments

4:40PM (NZT) The rampant AUD has again set all new record highs against the beleaguered EURO this week. The central bank diversification away from the EURO was one of the primary drivers of the AUD appreciation. There has also been evidence of investors rushing to exit sold AUD positions and this will have accentuated the move. Needless to say, again these level offer great value buying of EURO with AUD from a historical perspective. Next week the Australian inflation numbers on Wednesday are the focus for the Australian market. In Europe the peripheral member debt markets remain closely watched, and the manufacturing numbers Tuesday will be closely watched.
 
The current interbank midrate is:                                               AUEUR  .8487                    EURAUD  1.1783                                                                                   
 
The interbank range so far this week to date has been:   AUDEUR .8333 – .8514   EURAUD 1.1745 – 1.2000
 

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