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2 May 2013
Forex: EUR/AUD bounces to 1.2869/72
FXstreet.com (Barcelona) - The EUR/AUD found itself bouncing off the 1.2840 level following the EMU interest rate decision Thursday. The cross subsequently rallied over 30 pips to trade at 1.2869/72.
The RBA decision and a busy data calendar should produce lively trade in AUD. According to Global FX Strategist Sean Callow at Westpac, “We still see the AUD vulnerable on crosses.”
In the EMU, the interest rates were held at 0.50%, which was broadly in line with expectations. Indeed, this has proven to be a contentious issue as of late with investors.
The RBA decision and a busy data calendar should produce lively trade in AUD. According to Global FX Strategist Sean Callow at Westpac, “We still see the AUD vulnerable on crosses.”
In the EMU, the interest rates were held at 0.50%, which was broadly in line with expectations. Indeed, this has proven to be a contentious issue as of late with investors.