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The AUD remains unbder pressure with the RBA cash rate decision in sight.

Written by Sam Coxhead on March 30th, 2012.      0 comments

4:55 PM (NZT) The AUD initially saw demand this week as the equity markets rallied. However it did not take long for the equity markets to turn and the focus to come squarely on the RBA and their monetary policy meeting next week. Increasing chances of a cash rate cut next week stemmed demand for the AUD. After setting lows overnight, the AUD has bounced as equity markets rebounded late in the US session. Overall the trend lower for the AUD remains in place. Contracting interest rate differentials , coupled with a lowering growth profile in Asia should maintain this trend in the short term.
 
The current interbank midrate is:                                                            AUDUSD  1.0388                                                                                         
 
The interbank range so far this week to date has been:                 AUDUSD 1.0301 – 1.0558
 

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