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The Australian dollar remains at elevated levels vs the EURO.

Written by Sam Coxhead on August 10th, 2012.      0 comments

3:15 PM (NZT) It has been another reasonably volatile week for this pairing. The pair started the week with the AUD at its lows and after some sideways trade the demand for EURO’s started to decline and the AUD appreciated by default. The unchanged RBA decision was of limited impact , but the slightly better than expected Australian employment report provided another excuse for further AUD appreciation.  Whilst the European debt markets have consolidated with yields at lower levels, firm action will still be required soon from the ECB and European leaders. Next week expect the lead to mostly come from the debt markets again, any hint of pressure will likely see the AUD again push the recent record highs. That being said, even the current levels offer great value buying of EURO with AUD.
 
The current interbank midrate is:                                               AUEUR  .8581                   EURAUD  1.1654                                                                                    
 
The interbank range so far this week to date has been:   AUDEUR .8487 – .8610   EURAUD 1.1614 – 1.1783
Topics: AUD GBP
 

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