Excerpt from: GFT Analysts in the News
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| July 01, 2008 | | Aussie drops in forex trading on the currency market | The Australian dollar has finally fallen in currency trading on the FX market, ending five days of gains. Speculation is that the central bank will not need to raise interest rates again in the immediate futures, and that is having a dampening effect on the Aussie in forex trading.
In addition to the Australian dollar, the New Zealand dollar is also down in FX trading today. Both of these down under currencies are commodity currencies, and the expectation that the global commodity bubble will burst at some point in the relatively near future could also be playing a role in their struggles in FX trading.
| Topic Tags: Aussie forex trading, Australian dollar currency trading, commodity currencies, currency trading FX market, down under currencies, forex trading currency market, FX trading, New Zealand dollar FX trading | |
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