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the AUD remains elevated against the US dollar.

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

4:32 PM (NZT) It has been a mixed week for this pair, albeit one which sees the pair remain at elevated levels. The weak Australian retail sales numbers capped demand for the AUD early in the week. The RBA monetary policy statement was largely as expected, but the market saw a scramble the buy the AUD as the statement was digested, and it became clear that further policy easing was no certainty from the RBA. Today’s better than expected Australian employment numbers push the pair back towards the weeks highs and the resistance just above the market at 1.0500. The Fiscal negotiations remain the uncertainty in the US, and will provide the focus ahead of tomorrow’s US employment numbers. Current levels offer good value buying of US dollars, albeit disconcerting that the AUD remains at such elevated levels in the days following easing to a post GFC low in the cash rate.
 
The current interbank midrate is:                                                    AUDUSD 1.0470 
                                                                                         
The interbank range so far this week to date has been:        AUDUSD 1.0388 – 1.0488
Topics: AUD usd
 

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