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compass pointing north

AUD & NZD edge higher as Greenback remains at a 12 month low

Friday 21st of July

Australian Dollar:

During a week of daily gains for the Australian dollar, yesterday’s session proved no different with the domestic unit briefly capturing fresh highs when valued against its US Counterpart. In what’s likely to frustrate policy makers who have repeatedly called out a stronger AUD as a major headwind towards a quicker transition away from a commodity, export-driven growth path, highs overnight of 0.7987 see’s the currency holding levels above valuations not seen in more than two years.   Whilst data flows remain light today, the 80 US cents barrier remarkably only now sits a stone’s throw away as the Australian dollar currently buys 79.57 US Cents.   

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