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The EURO continues to underperform against the AUD.

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

7:15 PM (NZT) The EURO continued its underperformance of the AUD this week. The ECB monetary policy deliberations we not enough to please the action hungry market. The stronger than expected retail sales number in Australia and ongoing demand for Australian bonds added to the AUD appreciation. Next week the RBA monetary policy statement and quarterly employment numbers loom large. In Europe the ongoing political discussions will be heightened  importance given that the ECB has thrown down the challenge to politicians to join their efforts.
 
The current interbank midrate is:                                               AUEUR  .8605                    EURAUD  1.1621                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .8503 – .8611   EURAUD 1.1613 – 1.1761
Topics: AUD EURO
 

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