Australian Dollar has weakness has eased on Asian session, and the Aussie has bounced up, to appreciate against its major rivals on the back of rumours of the Reserve Bank of Australia "checking FX rates", which seems to have triggered short covering on AUD crosses.
AUD/USD decline from 0.9300 area at the beginning of May extended yesterday with a 380 pips sell off to a fresh 1-month low at 0.8075, and the pair has bounced up to 0.8365 session high on Asian trade although the Aussie has lost the 0.8300 level at European opening.
AUD/JPY decline from 84.50 area last week, extended to a 10-month low at 71.85 on Asian session, to bounce up to 75.50 high at European opening, and the AUD/NZD decline from 1.2600 high on Monday, found support at 1.2125 low on early Asian session before oaring to 1.2500 high and pull back again, on early European session to quote at 1.2265 at the moment of writing.
Read more: http://community.nasdaq.com/news/2010-05/forex-australian-dollar-picks-up-amid-rba-intervention-rumours.aspx?storyid=22086#ixzz0obSgqFvz
AUD/USD decline from 0.9300 area at the beginning of May extended yesterday with a 380 pips sell off to a fresh 1-month low at 0.8075, and the pair has bounced up to 0.8365 session high on Asian trade although the Aussie has lost the 0.8300 level at European opening.
AUD/JPY decline from 84.50 area last week, extended to a 10-month low at 71.85 on Asian session, to bounce up to 75.50 high at European opening, and the AUD/NZD decline from 1.2600 high on Monday, found support at 1.2125 low on early Asian session before oaring to 1.2500 high and pull back again, on early European session to quote at 1.2265 at the moment of writing.
Read more: http://community.nasdaq.com/news/2010-05/forex-australian-dollar-picks-up-amid-rba-intervention-rumours.aspx?storyid=22086#ixzz0obSgqFvz
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