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What a volatile week for the AUD against the YEN!

Written by Sam Coxhead on March 9th, 2012.      0 comments

12:40 PM (NZT) The AUD and YEN have had a volatile ride this week. Initially the YEN showed a strong resurgence to push the AUD from the opening highs to the lows of the week. This was fueled by the lower Chinese growth expectations and horrible Australian GDP, and the wider market risk aversion. Since the lows and the positive turn around in sentiment, the AUD has taken back some of the lost ground. Wider market sentiment will be the primary driver next week in the absence of top tier economic data in either economy. The outcome of the Greek debt swap, and any additional stimulation from Chinese authorities, will likely hold the key.
 
The current interbank midrate is:                                                            AUDYEN 86.81                              
                                                               
The interbank range so far this week to date has been:                 AUDYEN 84.78  - 87.92             
 

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