AUD Trading Outlook (21-03-2011)

The Australian Dollar (AUD) also benefited from significant JPY cross selling, as the AUDJPY rallied 400+ points to levels near 81.44 helping the AUD/USD zone in on that key 1.0000 level once more. The AUD/USD fell just shy of the $1 mark as China&rsquo s effort to raise reserve rates by 50bpts ensured momentum waned to record a high of 0.9979 for the trading day.

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