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Australia, NZ dollars find some comfort as China markets reopen higher
The Australian and New Zealand dollars found some solace on Monday as Chinese markets returned from a long holiday with modest gains, although fading chances for early rate cuts globally will weigh in the months ahead. Volumes in the foreign exchange were subdued through the day thanks to the Presidents’ Day holiday in the US The Aussie hit a two-week high of $0.6551, having finished last week little changed. It did manage to bounce from a three-month low of $0.6443 in a bullish signal and resistance now lies at the 200-day moving average of $0.6567. The kiwi dollar was 0.3% higher at $0.6140, the highest in one ... (full story)
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- Posted: Feb 19, 2024 5:24am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,354
