Wednesday 28 October 2009

Australian dollar

The Australian currency, often referred as the Aussie, strengthened to a two-week high versus the yen as stocks in Asia climbed this Monday, raising attractiveness for the yield of the Australian dollar.

The Australian dollar had a brilliant performance last week supported by U.S. corporate earnings, and this week, both the Aussie and its New Zealand counterpart started bullish mainly against the yen and the greenback, as commodity prices continued on the rise, favoring the attractiveness of the South Pacific currencies.

the crude oil rise together with several other commodities pushed the Aussie up to hit a two-week hige crude oil rise together with several other commodities pushed the Aussie up to hit a two-week high versus the Japanese yen, which is losing massively since risk aversion declined.

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