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AUD strengthens and falls

I have long been on record for believing the AUD range is between 70-75c against the USD and the past few months has seen it push both edges as the AUD dipped slightly under 70c
AUD strengthens and falls

I have long been on record for believing the AUD range is between 70-75c against the USD and the past few months has seen it push both edges as the AUD dipped slightly under 70c in February before pushing up past 76c briefly in early April and now falling back to the 70c mark as I write this newsletter in early May.

Nothing I have seen makes my view change of the range, but the swings do highlight how much currency has lost its stability and shifted into the trading category of commodities.

The prospect of Australia soon to lift the official interest rates and the strength of the overall economy, should theoretically be supporting an argument for the AUD to be strengthening, but that doesn’t seem to be having the desired impact, at least not at the moment.  It will be interesting to see if logic will prevail in the coming weeks.

Click here to read our latest market summary from our SMATS FX.

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