The Aussie dollar is proving its resilience once again holding onto 0.7600 vs. the Greenback and 0.62 vs. the Pound despite consistent calls from pundits and economists who believe AUD is over valued at current levels. Interesting to note however that the same bunch of people have been also been saying iron ore is over valued and due for correction but the local super commodity continues to perform well with iron ore prices again reaching towards US$60 a tonne.
EUR – German IFO Business Climate at 7.00pm
AUD EXCHANGE RATES:
AUD/USD – 0.7601
AUD/GBP – 0.6203
AUD/EUR – 0.6972
AUD/NZD – 1.0644
AUD/JPY – 79.16
***Above rates are indicative wholesale rates and intended as a guide only***
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