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Whats happened tyo the AUDUSD this week?

Written by Sam Coxhead on May 25th, 2012.      0 comments

5:13 PM (NZT) The Australian dollar has seen further pressure from the dominant US dollar this week. Concerns over growth rates in China, and market uncertainty from Europe have provided dual drivers for the lower AUD.  A return to economic data in Australia next week will increase the domestic lead for the pair. But the big data in the US in the form of employment and GDP will be the dominant factor. Consolidation through .9700 opens up the way for another leg lower from the AUD. Market sentiment will no doubt prove patchy ahead of the Greek elections on 17 June. This factor should undermine any material bounce from the AUD against the US dollar in the short term. 
 
The current interbank midrate is:                                                            AUDUSD  .9737                                                                                         
 
The interbank range so far this week to date has been:                 AUDUSD .9686 – .9937
Topics: AUD, USD
 

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