Australian Dollar Outlook - 15 November 2012

By Christine Gaylican,

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Bell FX Currency Outlook: Australian Dollar takes a tumble as risk appetite wanes.

Australia: The Australian dollar has seen a significant pull back this morning as it followed equity markets lower overnight. Comments from the US Federal Reserve suggesting it was considering a bond-buying program to stimulate the labour market saw renewed concerns over the US economy.

The local unit traded to a low of 1.0369 against a stronger US dollar and is broadly lower against the crosses. A small bid for safety helped the safe-haven US dollar and saw US treasuries erase some earlier losses.

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This article appears in: Investing Commodities
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