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7 Mar 2014
AUD/USD posts highest weekly close since December
FXStreet (Córdoba) - The AUD/USD finished the week, steady trading around 0.9060/70, posting the highest weekly close since December. On Friday the pair peaked at 0.9133 but failed to hold and pulled back on American hours. The retreated found support above 0.9050.
Affected by risk aversion the AUD/USD opened on Monday below 0.8900 under pressure, but since then moved with an upside bias, rising constantly until Friday.
Despite trimming gains, the AUD/USD ended the week higher, after falling in the previous two and extended the recovery from levels near 0.8600, where 2014 lows lie.
The Australian Dollar was among the best performers during the week across the board in the currency market supported by economic data and comments made by central bank authorities, affirming that interest rates are at appropriate levels.
Affected by risk aversion the AUD/USD opened on Monday below 0.8900 under pressure, but since then moved with an upside bias, rising constantly until Friday.
Despite trimming gains, the AUD/USD ended the week higher, after falling in the previous two and extended the recovery from levels near 0.8600, where 2014 lows lie.
The Australian Dollar was among the best performers during the week across the board in the currency market supported by economic data and comments made by central bank authorities, affirming that interest rates are at appropriate levels.