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The Australian dollar looks set to take a breather after a wild Wednesday
As promised, it was a wild session for the Australian dollar on Wednesday. However, for all the major events that came and went — Australia’s Q2 CPI release, Japan’s fiscal stimulus package and the US Federal Reserve’s July FOMC meeting just to name three — the Aussie is almost exactly back where it was trading 24 hours ago in early Asian trade on Thursday. After a wild 150-pip trading range, which saw the Aussie rally above .7560 immediately after the Australian CPI release only to tumble as low as .7420 late in the US session, the AUD/USD eventually closed Wednesday trade buying .7490, down just 0.13% ... (full story)