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AUD CAD bounces back to recently familiar levels.

Written by Sam Coxhead on June 7th, 2012.      0 comments

3:55 PM (NZT) The Australian dollar has seen grinding appreciation against the CAD throughout this week. It has been the dual drivers of robust domestic data, and international risk appetite that has driven the rise. The apparently retrained 25pt cut to the cash rate was added to by significantly stronger than expected Q1 GDP and today’s solid employment report. The wider market sentiment has gained a lift from the chatter coming from various central banks with regards to further monetary policy easing. The big questions is whether or not this surprising move can be sustained. The upcoming Greek elections and the need for an workable bank re-capitalisation plan both make for a dubious backdrop.  
 
The current interbank midrate is:                                                            AUDCAD  1.0220                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0234 – 1.0045
Topics: AUD CAD
 

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