Excerpt from: Forex Analysis
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| October 09, 2008 | | Global rate cut helps down under currencies in forex trading | The Australian dollar, along with the New Zealand dollar, is gaining in currency trading on the FX market. The down under currencies are being helped by the global rate cut that is leading to a return (at least for now) of the yen carry trade.
With things looking a little more stable, high yielding assets like the Australian dollar and the New Zealand dollar become more popular.
Bloomberg reports on the down under currencies in forex trading:
``If you start to see a wee bit more stability come through
in Asian equity markets, the chance of a bit more stability in
the Australian dollar is actually quite high,'' said Robert
Rennie, chief currency strategist in Sydney at Westpac Banking
Corp. ``Central bank easing at some point should begin to have a
beneficial impact on risk assets and the markets.'' | Topic Tags: Australian dollar, currencies forex trading, currency trading, currency trading FX market, down under currencies, forex trading, global rate cut, yen carry trade | |
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