Australian Dollar Moves Out Of The Dungeon
MARKET VOICE
Besa Deda, an economist at the Commonwealth Bank of Australia, sees the Australian dollar finally beginning to show signs of an upturn after a difficult last twelve months
In mid-November 2000, the strength of the US dollar began to unravel. The slowing US economy, expanding US current account deficit and falling US stock markets prompted a re-assessment of global investment flows to the US. The shift in sentiment towards the US dollar provided a trigger for the Australian dollar to appreciate.
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