Excerpt from: GFT Analysts in the News
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| January 31, 2008 | | Aussie, kiwi down in currency trading on the FX market | After yesterday's 50-basis-point Fed rate cut, stocks rallied and down under currencies enjoyed a surge in forex trading. However, stocks reversed by the end of the day, and now the Aussie and the kiwi are down in currency trading on the FX market. Bloomberg reports on the down under currencies in forex trading:
``The trigger for the decline in the currencies was the
sluggish close in U.S. stocks and the insurance issues,'' said
Peter Pontikis, treasury strategist at Suncorp-Metway Ltd. in
Brisbane, Australia. ``The Australian and New Zealand dollars
will head lower.'' | Topic Tags: Aussie, currency trading, down under currencies, down under currencies forex trading, Fed rate cut, forex trading, FX market, kiwi currency trading | |
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