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9 Aug 2013
Flash: USD at two month low - Westpac
Sean Gallow, FX strategist at Westpac notes that the US dollar index fell to a two-month low, extending a slide which started on 10 July.
Key Quotes
“EUR conversely pushed to a two-month high, rising from 1.3340 to 1.3400. The ECB’s monthly report confirmed its easing bias but noted the improvement in recent economic data, endorsing July’s firmer market swap rates.”
“USD/JPY fell from 96.60 to 95.80 (two-month low) but recovered in NY. The weak US dollar allowed the AUD to shrug off a weak employment report and rose from 0.9040 to 0.9135 – a seven day high. NZD followed suit, rising from 0.7950 to 0.8047 – an eight day high. AUD/NZD consolidated between 1.1330 and 1.1385.”
Key Quotes
“EUR conversely pushed to a two-month high, rising from 1.3340 to 1.3400. The ECB’s monthly report confirmed its easing bias but noted the improvement in recent economic data, endorsing July’s firmer market swap rates.”
“USD/JPY fell from 96.60 to 95.80 (two-month low) but recovered in NY. The weak US dollar allowed the AUD to shrug off a weak employment report and rose from 0.9040 to 0.9135 – a seven day high. NZD followed suit, rising from 0.7950 to 0.8047 – an eight day high. AUD/NZD consolidated between 1.1330 and 1.1385.”