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Records highs for the AUD against the EURO.

Written by Sam Coxhead on July 6th, 2012.      0 comments

4:50 PM (NZT) The AUD had seen further grinding appreciation against the beleaguered EURO again this week. The appreciation sharpened somewhat upon the news of the surp5rise PBOC easing of the interest rates yesterday. The AUD has now set new records highs against the EURO, and it is needless to say that current levels offer very good value buying of EURO with Australian dollars. Next week will see a continued focus on the debt markets in Europe, and of Spain and Italy in particular. Given the particularly heavy nature of the EURO this week, further AUD upside can not to be ruled. Given the slowing global economy, these are certainly interesting times.  
 
The current interbank midrate is:                                               AUEUR  .8106                    EURAUD  1.2337                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .8084 – .8316   EURAUD 1.2025 – 1.2370
 
 

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