The Australian Dollar (AUD) tested below 0.9900 with the market struggling to maintain strength and starting to be sold on rallies. Devastating floods are undermining sentiment towards the risk currency although stock market movements should continue to be the major cause of movements going forward. Overall the AUD/USD traded with a low of 0.9881 and a high of 0.9985 before closing the US session at 0.9940.
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