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Aussie at One-Week Highs

Submitted by Daniel Santos on Fri, 03/09/2007 - 20:37

The Aussie touched one week highs on today’s Asian forex trade. The rally was a little stifled as a result of caution in the markets ahead of US employment data coming up overnight. This morning the Aussie was around 77.90 cents compared to 77.73 cents yesterday. Sue Trinh, currency strategist at RBC Capital, have noted that carry trades have gained renewed interest with investors encouraged by signs of consolidation in world share markets. Is the dollar set for recovery above 78 cents when just a week ago we were thinking about 80 cents? Hmm – something to ponder in the weekend.

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