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The AUD continues its retreat against the EURO.

Written by Sam Coxhead on August 31st, 2012.      0 comments

2:55PM (NZT) The EURO has continued to take back ground from the Australian dollar this week. As the commodity markets remain vulnerable, the correction from the AUD record highs over the EUR is now almost five percent. The coming weeks will no doubt prove interesting and potentially volatile. The ECB and RBA make monetary policy announcements next week an both of these will be closely watched. The Australian economic calendar is also full, with retail sales , GDP and the latest employment numbers to digest.   The nearby AUD support level of .8200(1.2195) represents the next hurdle for further AUD underperformance.
 
The current interbank midrate is:                                               AUEUR  .8223                    EURAUD  1.2161                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .8211 – .8332   EURAUD 1.2001 – 1.2179
Topics: AUD EURO
 

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