OzForex Daily Commentary - 06/01/2009

05 January 2009 @ 04:56 pm EDT

:: Australian Dollar: The Australian Dollar opens higher today at 0.7149 and in the last 24 hours has been more "up and down" than the wicket at the Sydney Cricket Ground. In local trade yesterday, the Aussie worked its way towards 0.7150 before running into strong resistance and was sold back down towards US71 cents. Some cracks in the wicket emerged overnight which saw it move down to a low of 0.7061 before a strong rally late in the New York session took it higher once more for a session peak of 0.7180. The Aussie also opens stronger against the Euro (0.5250), Yen (66.70) and Kiwi (1.2140).

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