The Australian Dollar is lower over the
weekend, due to cautious investors ahead of the summit of Central Bankers next
month. There are still strong rumours that Quantitative Easing is on the cards
for next month and that further economic stimulus will cause the dollar to drop
considerably.
IG Markets institutional trader Chris Weston said it is not just the dollar
that has been falling ahead of the Jackson Hole get together.
"It's everything across the curve, we've all seen risk currencies
falling across the day," Mr Weston said.
"It looks like we're not going to get any strong definitive rhetoric
from Ben Bernanke this weekend, he might lay out the policies he has at his disposal
but to get a clear framework for QE3 from Jackson Hole is probably less likely
and people are just taking a few of those profits off the table today."
Pound To Australian Dollar - 1.5195
Euro to Australian Dollar - 1.2032
US Dollar to Australian Dollar - 0.9637
Bye For Now
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