Friday, May 25, 2007

Aussie Higher Against Most Other Majors During Late New York Trading, Friday, May 25, 2007 12:19:13 AM

The Australian dollar strengthened against most major currencies during late New York trading on Thursday. The upward journey of the Aussie came amid a lack of data from the Australian economy.

It was the release of the Japanese inflation data that marked the late night trading on the day. Amid the Japanese release, the Aussie weakened against the yen, but shortly thereafter, the pair rebounded.

The Australian dollar gained ground against its U.S. counterpart at about 7:15 pm ET on Thursday, and moving from 0.8175, the pair fetched 0.8205 by about 10:05 pm ET. Thereafter, the Aussie trended slightly lower, and as of 12:10 am Friday, it was worth 0.8194 of a US dollar.

The Australian dollar weakened heavily against the euro during the afternoon deals on Thursday in New York, but the pair gave back its gains during late hours on the day. At 7:15 pm ET approximately, the Aussie started reversing its recent losses and moving from 1.6426, the pair entered a slightly upward trend lately. As of 12:10 am ET on Friday, the euro was quoted at 1.6375 against the Aussie.

The Australian dollar started moving higher against its Canadian counterpart at about 7:15 pm ET on Thursday. Rising from 0.8871, the pair collected as much as 0.8900 at 10:00 pm ET. Thereafter, the Aussie moved slightly downwards, and as of 12:10 am ET on Friday, it fetched 0.8885 of a loonie.

The Australian dollar showed weakness against the Japanese yen during afternoon trading on Thursday in New York but moved sideways in evening deals. Shortly after the release of the Japanese inflation data, the pair weakened further deeper and fetched as low as 98.935 by around 9:20 pm. Thereafter, the pair bounced back, and has been trending slightly lower, lately. The Aussie fetched 99.235 yen at 12:10 am ET on Friday.
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