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The AUD maintains pressure on Euro ahead of the RBA

Written by Sam Coxhead on February 3rd, 2012.      0 comments

5:40 PM (NZT) The Australian dollar against the EURO continues to a volatile pairing. The Australian dollar has managed to maintain pressure on the EURO whilst having the prospect of a cut to the cash from the RBA next week. Until there is some kind of solid conclusion with regards to the Greek fiscal situation, the EURO will remain under pressure across the board. Next week will prove to be interesting with not only the RBA monetary policy decision on Tuesday, but the more in depth quarterly monetary policy statement on Thursday. If we are able to see some kind of agreement reached on the private write downs on the Greek bonds, the EURO should start to take back some of its lost ground, and push back from the historic lows.
 
The current interbank midrate is:                                                            AUDEUR .8144                                           EURAUD 1.2279
                                                               
The interbank range so far this week to date has been:                 AUDEUR .8012 - .8171                            EURAUD 1.2238 – 1.2481
 

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