Australian Dollar Weak On Thursday In The Midday, Thursday, August 09, 2007 12:29:56 PM
The Australian currency slipped against its world counterparts in trading on Thursday midday in New York. The currency dropped as the New Zealand Herald reported the Australian Prime Minister John Howard apologized for the latest interest rate rise inflicted on his country.In trading against its American counterpart on Thursday, the Australian currency saw weakness headed into the midday. The aussie slipped past 0.8500 in the mid morning, but gained back a small portion of its losses to move at 0.8539 near noon EST. The currencies traded as American data showed that initial jobless claims had increased more than expected for the week ending August 4th, revising the previous estimate to 316,000 from 309,000.
The Australian currency slipped against its Japanese counterpart in trading on Thursday. By the midday, the aussie had dropped steadily to a mark of 101.28. The Australian dollar and yen traded as Japan recorded a foreign capital inflow of 894.2 billion yen on domestic securities for the week ending August 4th.
Versus the euro, the aussie saw some weakness on Thursday. The currency dropped sharply in the early hours near a mark of 1.6055 and held near that level into the midday. The Australian and European currencies moved as the ECB stepped in to offer cash to borrowers after the overnight lending rates shot up to their highest level in nearly six years.
The Australian dollar slid in trading with its British counterpart on Thursday. The aussie slipped sharply in the first few hours of the day, and held near a mark of 2.3753 into the midday action. The currencies moved as the U.K. announced that the trade deficit had narrowed to 3.6 billion pounds in June.
Copyright © 2007 RTTNews.com. All Rights Reserved.
posted by Kalin Tasev @ 2:16 PM
0 Comments:
Post a Comment
<< Home