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US Dollar Strengthens despite Flynn Fallout, Can the Australian Dollar Rebound on Jobs Data?
The Australian Dollar has dropped by around -0.2% against the US Dollar today, with investors buying into the USD in force after hawkish Fed commentary. AUD has failed to rise against USD even though a rise has been seen in the recent Westpac consumer confidence change from 97.4 to 99.6. Westpac Senior Economist Matthew Hassan elaborated on the underlying issues in the Australian economy; ‘At just below 100 the index is in slightly pessimistic territory with consumers reporting family finances under pressure and a mixed outlook for the economy’. NAB Chief Economist Alan Oster added; ‘We remain concerned about ... (full story)