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The Australian dollar is higher because the Chinese yuan is up too
The Australian dollar continued to gain ground against all of the major crosses on Thursday, except the Chinese yuan. Here’s the scoreboard at 7.45am in Sydney on Friday. AUD/USD0.7185,0.0015,0.21% AUD/JPY77.9,0.36,0.46% AUD/CNH4.8798,-0.0039,-0.08% AUD/EUR0.6248,0.0036,0.58% AUD/GBP0.5636,0.003,0.54% AUD/NZD1.0593,0.0035,0.33% AUD/CAD0.9507,0.0037,0.39% In short, the main reason the Aussie dollar is trading higher is because the Chinese yuan is rallying, hitting the highest level in five months during the session. “Instrumental to the gains has been the appreciation of the Chinese Yuan yesterday afternoon and ... (full story)
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- Jan 11, 2019 3:42am Jan 11, 2019 3:42am
- Koop
- Joined Apr 2016 | Status: Conquistadores' | 136 Comments
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- Jan 11, 2019 6:20am Jan 11, 2019 6:20am
- cogs
- | Joined Jul 2010 | Status: Member | 221 Comments
My comments are not to be taken as trading advice, not a financial advisor