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AUD Trading Outlook (23-02-2012)

Australian Dollar (AUD) the AUD/USD tried to rally but once again eased in the US session with the usual support seen for the commodity currency lacking even as Gold surged higher. Some traders suggest the political risk that is unraveling in the challenge to PM Gillard from a former Prime minister as the reason for yesterday’s underperformance. Looking ahead, February German IFO Business Climate forecast at 108.8 vs. 108.3 previously.

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