ITS ABOUT THE CASH NOTHING ELSE.
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The Australian dollar is going nowhere fast as traders eye bigger events ahead
The Australian dollar remains stuck in a narrow trading range, failing once again to hold onto earlier gains on Tuesday as risk appetite in markets soured. Here’s the scoreboard at 7am in Sydney on Wednesday. AUD/USD0.7125,-0.0001,-0.01% AUD/JPY79.19,-0.24,-0.30% AUD/CNH4.7864,-0.0001,0.00% AUD/EUR0.6324,-0.0003,-0.05% AUD/GBP0.5459,0.0006,0.11% AUD/NZD1.0562,-0.0008,-0.08% AUD/CAD0.9497,0.001,0.11% After starting the session at .7126, the AUD/USD climbed to as high as .7152 in European trade, helped in part by a slightly stronger-than-expected increase in Australian housing finance in February. However, as has ... (full story)
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