4Cast cautious over Australian dollar
“We were mistrustful of the veracity of the dollar sell-off/euro rally in July that was linked to declining US Treasury yields and the easing of eurozone-specific tensions before and after the bank stress tests,” said Ray Attrill, director of research at 4Cast in Sydney. “Instead we felt eurozone-specific negative news and a less risk-positive market tone was likely to reassert at various points during August and early September.”
This was based on expectations for evidence to emerge that the
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