Aussie still out of favour


The Australian dollar strengthened last week, but the gains were short-lived, writes Besa Deda (right), economist at Commonwealth Bank of Australia in Sydney

The Australian dollar this week hit a three-week high of US51.95 cents on February 19. The gains in the Australian dollar followed strong domestic economic data and an upbeat speech from the Reserve Bank deputy governor.

But the Australian dollar could not continue its advance past the US52 cent barrier, and the market continues to remain