Wednesday March 9, 2005 - 14:42:06 GMT
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FX Today - www.fxtoday.co.uk
Beware AUD volatility
The dollar weakened to a low of 1.3385 before securing a corrective bounce against the Euro. Commodity currencies remain in focus, but the US Treasury market has also been an important focus with yields rising sharply on a break of technical support. Trading is liable to remain treacherous in the short term.
The Australian dollar could see heavy volatility tonight after the New Zealand rate decision and Australian unemployment data. Avoid buying AUD/US$ without a retracement back to at least 0.7880 and possibly 0.7820.
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