AUD Trading Outlook (22-11-2012)
Australian Dollar (AUD) was less buoyant than most other majors in light of growing optimism, despite its perceived role as a favoured risk yielding currency. RBA minutes released earlier in the week highlighting the possibility of a rate cut in coming months, added to the short lived euphoria of IMF categorizing the AUD as a global reserve currency on Monday, the AUD failed to track the sharp shift upward, with a slow grind higher from levels near 1.0335 toward 1.0380 in early Asia (Thursday)
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