13.05.2014 - Stronger US dollar keeps Australian currency in check
The Australian dollar is range-bound thanks to a stronger greenback and ahead of the federal budget. At 7am (AEST), the local currency was trading at US93.62c, slightly down from US93.66c on Monday. The Australian dollar was directionless overnight with little economic data or news to drive the market, Westpac senior market strategist in Wellington Imre Speizer said. The currency, boosted by stronger local data, had been stopped in its tracks this week by the strengthened greenback, he said. “The US dollar bounced back last week and that’s caused the Aussie to stall,” Mr Speizer said...............................................Full Article: Source
Print