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AUD Trading Outlook (29-07-2011)

The Australian Dollar (AUD) failed to maintain strength as the risk aversion overwhelmed and pushed the Aussie back from fresh record highs to test 1.1000. The New Zealand Dollar has similar movements trading at record highs after the RBNZ rate meeting came out with hawkish comments that brought forward interest rate hike expectations. Overall the AUD/USD traded with a low of 1.0974 and a high of 1.1077 before closing the day at 1.1010 in the New York session.

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