AUD Trading Outlook (16-06-2011)
The Australian Dollar (AUD) was very strong in the Asian session when RBA governor spoke hawkishly about the chance of rate hikes if the July CPI data was above the bank&rsquo s target rate. This was reversed in the stock slump and Euro crash later in the day but losses were limited so far. AUD/NZD fared better rallying on weak milk prices. Overall the AUD/USD traded with a low of 1.0534 and a high of 1.0716 before closing the day at 1.0575 in the New York session.
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