Aussie fights the flames

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After being confined to a relatively narrow range for a number of weeks, the Australian dollar sprang to life this past week, moving towards the 0.5700 level against the US dollar. A good part of the explanation for the Aussie’s gains stems from a renewed decline in the US dollar, which seems to have suffered from a perception that new Treasury Secretary John Snow may be less inclined to endorse the strong dollar policy first implemented by Robert Rubin in the mid-1990s. Another factor weighing