Wednesday, November 24, 2010

AUD: Australian amid tensions in Korea looks like a safe bet


After a severe beating on Monday and Tuesday, which led to a drop in Aussie for more than 2% to a low of 0.97 in New York last night, an Australian with confidence to win back the position during the Asian trading session, and now the Aussie slightly below 0.98. Customer interest in the Australian was fairly constant throughout the night from businesses and banks. On the background of the euro, which is still in the doghouse, Asian currencies in high alert in connection with yesterday's shootings on the Korean peninsula, and there is a feeling that the Australian is against this backdrop is a safer bet. Australian currency at the moment grabs the 50-day moving average, and the technical side looks vulnerable.

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