Daily Forex Commentary 30/7/2010

29 July 2010 @ 08:41 pm EDT

:: Australian Dollar: The Aussie dollar staged a remarkable recovery over the last 24 hours rallying from a post inflation report low of 0.8904 to trade at a high of 0.9040 overnight. After entering early London trade around 0.8965, Greenback selling provided the stimulus for the move as investors pushed EUR/USD higher following an upbeat consumer sentiment survey out of Europe. This morning sees the AUD/USD open at 0.9005 whilst with AUD/NZD demand also emerging following yesterdays RBNZ interest rate announcement the cross rate is higher at 1.2430. 

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